Central China Goldfields PLC (AIM: GGG) said it was notified that Obtala Resources PLC (AIM: OBT) has increased the number of company shares it controls to 21.9 million from 20.4 million, thus raising its stake to 11.94 percent from 11.13 percent.
It had only last week raised its stake to 11.13 percent from 10.5 percent. Obtala has recently been building its stake in Central China Goldfields. It raised its holding in the group three times last month.
Central China Goldfield’s directors and controlled entities still hold the second largest stake in the company, at 8.1 percent as at October 16.
Central China Goldfields is currently working towards a new direction following the sale of its Nimu copper-molybdenum project.
Early in October it appointed a new chairman in Dr Peter Ruxton, who has a broad experience of initiating, managing and exiting over US$180 million worth of private equity mining investments in emerging markets.
Obtala is typically focused on African based 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 7,039 square kilometrres, 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 percent of Kopane’s issued share capital.