Obtala Resources to sell 100m Bushveld shares
Obtala Resources, a natural resource investment and development company, has agreed to sell 100m of its shares in Bushveld Minerals to Endulwini Mining Corp at 13p each.
Obtala Resources, a natural resource investment and development company, has agreed to sell 100m of its shares in Bushveld Minerals to Endulwini Mining Corp at 13p each.
The £13m sale is expected to be completed within 45 days once certain conditions have been met, including Endulwini receiving exchange control approval and final approval from its funding partner.
Obtala will retain 30.52m shares in Bushveld, equal to 10.75% of the issued share capital.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The proceeds will be escrowed with part of the funds used to grow and develop the agriculture projects in East Africa which is the main strategy of Obtala.
Bushveld generated an operating loss of £1.55m for the half year ended August 31st 2012.
Obtala's share price rose 3.23% to 8.00p by 08:22 Wednesday.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Michelin Key Hotels 2025: the top destinations in the world
The Michelin Keys have been awarded to spectacular hotels across the world. From Marlon Brando's private resort in Polynesia to a Bvlgari hotel in Tokyo, we look at some of the most extraordinary stays in 2025
-
MoneyWeek news quiz: How much could you get in car finance compensation?
The car finance scandal, inheritance tax, and house prices all made headlines over the past few days. Test your knowledge while reviewing this week’s top stories with MoneyWeek’s news quiz