Thursday 17 January 2019

Mining firm takeover

EXPLORATION giant Lundin Mining has inked a deal to buy Irish company Belmore Resources for nearly £6.4m (€7.2m).

Belmore is headed by former Bula Resources executive Pat Mahony and chairman Ian Forrest. The company counts as its sole asset a 350sq km zinc, lead and silver prospect in Co Clare.

Toronto-headquartered Lundin has an existing share in this mine and offered 15p per share for Belmore.

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