Gunsynd PLC Investment Update (6556A)
27 März 2017 - 5:12PM
UK Regulatory
TIDMGUN
RNS Number : 6556A
Gunsynd PLC
27 March 2017
Gunsynd plc
("Gunsynd", or the "Company")
Investment Update
Gunsynd announces that it has disposed of 887,500 shares in
Zenith Energy Limited ("Zenith") for consideration of GBP96,939,
and that it has also disposed of 5,500,000 shares in Alba Mineral
Resources plc ("Alba") for consideration of GBP15,687. Gunsynd now
holds 6,276,834 shares in Zenith representing a total of 5.53% of
Zenith's total issued ordinary share capital and 86,500,000 shares
in Alba representing a total of 4.63% of Alba's total issued
ordinary share capital.
The Company further announces that Brazil Tungsten Holdings Ltd
("BTHL"), in which Gunsynd holds a 10% interest, has informed the
Company of its production numbers for January and February 2017,
which were 17.0 and 15.6 tonnes of concentrate respectively.
Hamish Harris, Executive Chairman of Gunsynd, commented:
"It is pleasing to see the sustained growth in monthly
production numbers from BTHL. This together with the recent
improvement in tungsten prices, combined with the recent
application for the new Tarantula mine underline the value of this
asset as an investment proposition and give us confidence in
extracting value from this investment in the future. We are also
pleased to have been able to sell down a small part of our
investment portfolio at a healthy profit in order to generate funds
for future investments"
Gunsynd plc:
+44 (0) 20 7440
Hamish Harris 0640
Nominated Adviser
/ NEX Exchange Corporate
Adviser:
Cairn Financial
Advisers LLP
James Caithie/Liam +44 (0) 20 7213
Murray 0880
Joint Broker:
Peterhouse Corporate
Finance
+44 (0) 20 7469
Lucy Williams 0930
This information is provided by RNS
The company news service from the London Stock Exchange
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