Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

URU Metals buys 8.8% stake in Management Resources Solutions

URU's CEO John Zorbas described MRS as “an exciting AIM listed business with a very impressive client list”.
Acquisition sign post
URU sees potential synergies in its relationship with MRS

Base metals and uranium explorer URU Metals Ltd (LON:URU) has taken an 8.79% stake in project management specialist Management Resources Solutions PLC (LON:MRS).

The company acquired the stake from SCOPN for £1.13mln. The consideration was satisfied through the issue of 25.17mln URU shares.

"We are delighted to have acquired this minority shareholding in MRS which we are making both for long term investment reasons and for the potential synergies we see between the two companies,” revealed John Zorbas, chief executive officer of URU.

“Based on the recent recovery in commodity prices and the resultant re-opening and/or expanding of mining operations in New South Wales, coupled with the continual demand for New South Wales coal from the Chinese market, we see this investment as having considerable upside potential,” he added.

Zorbas described MRS as “an exciting AIM listed business with a very impressive client list”.

“URU also looks forward to developing its relationship with MRS, especially as we seek to develop our South African projects, where we see opportunities to benefit from MRS's broad range of skills and expertise that directly support mining across every phase of the mining cycle," Zorbas added.

URU has also allotted 20mln new shares to Adam International Investments as a result of Adam exercising warrants at a penny a pop.

In all, the shares issued to SCOPN plus those issued to Adam International represent 5.85% of the enlarged issued share capital of URU.

View full URU profile View Profile

URU Metals Ltd Timeline

Newswire
December 23 2016

Related Articles

Uranium on periodic table
May 10 2018
Cauldron owns the Yanrey Uranium Project, 85 kilometres south of Onslow in Western Australia.
Picture of stacking gate
May 08 2018
The Etango mine is expected to be a top 10 producer once developed.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use