Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) made a further investment in Libero Copper & Gold Corporation to acquire 2.9 million new shares at C$0.33 per share for C$957,000.
The investment forms part of Libero's recently launched private placement, with gross proceeds of approximately C$4.5mln to be used for exploration at the Big Red porphyry copper project in British Columbia, Canada.
Libero is listed on the TSX Venture Exchange and owns, or has the right to acquire, several copper exploration properties in North and South America, including Mocoa in Colombia, one of the world's largest undeveloped copper-molybdenum resources.
Maintaining its 19.9% interest in Libero reflects Anglo Asian's strategy to increase its exposure to copper both in Azerbaijan and internationally, which will be critical to transitioning towards a mid-tier production profile.
"Anglo Asian was delighted to further invest to maintain our holding in Libero, while helping to fund the exploration of the Big Red copper project,” said Anglo Asian chief executive Reza Vaziri.
“Libero holds an exciting range of copper assets throughout the Americas, providing us with significant exposure to future copper production.”