Transamine has Cu offtake for Boseto, buys 10% stake in Discovery

London 09 March 2010 09:32

Transamine will buy all the copper concentrate produced at Discovery Metals’ Boseto copper mine in Botswana over five years as well as take a 9.76% stake in the company.

As part of the offtake deal, Transamine will subscribe to 25 million Discovery shares at A$0.7623 ($0.69) per share, paying an 11% premium to Discovery’s four-week volume weighted average price, raising A$19 million which will go towards building the project, Discovery said on Tuesday.

The 25 million shares in addition to Discovery’s current 231 million share capital will represent 9.76% of the new...

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Transamine has Cu offtake for Boseto, buys 10% stake in Discovery

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