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Polo Resources to increase shareholding in Blackham

Blackham Resources is advancing the Matilda gold project in Australia though the pre-construction phases of mine development.
Mining vehicle, represents mining industry
Polo’s stake in Blackham will rise to 8.11% from 6.97%.

Polo Resources Limited (LON:POLO) has confirmed it intends to exercise a right which effectively sees it raise its stake in Blackham Resources, a company with interests in gold and coal assets in Australia.

It will issue shares worth A$3mln as it exercises its right to acquire a further 49% of Perfectus Management Ltd, a 2.3% shareholder in Blackham.

Polo’s stake in Blackham will rise to 8.11% from 6.97%. The AIM quoted natural resources investor holds 5.83% directly in Blackham.

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