It would appear Obtala Resources (AIM: OBT) hasn’t had its fill of Central China Goldfields (AIM: GGG) shares just yet. Last week Obtala upped its interest in Central China to 7.29%, sparking off speculation that it was considering a bid for the company. This afternoon, Obtala confirmed that it had increased its interest again, and now holds just under 10.5% of Central China, or 19.175 million shares.
Central China Goldfields, as the name suggests, is a China focused gold explorer. The company is currently working towards a new direction following the sale of its Nimu Copper-Molybdenum project.
Earlier this week, Central China Goldfield’s appointed a new Chairman in Dr Peter Ruxton, who has a broad experience of initiating, managing and exiting over $180m worth of private equity mining investments in emerging markets.
Obtala was incorporated, and is typically focused on African base and precious metal projects. Obtala holds a portfolio of exploration assets in Tanzania comprised of exclusive or majority interests in a total of 36 licences covering a total area of over 7,039km2, covering prospective ground for gold, nickel, uranium, copper, iron ore, and gemstones.
Kopane Diamonds (AIM: KDD) is among Obtala’s other notable investments, with Obtala holding approximately 64.5m ordinary shares, representing 29% of Kopane’s issued share capital.