01
Apr
19:16
RARE EARTH: Altona Rare Earths to buy 70% stake in Ugandan company
UK junior exploration company Altona Rare Earths will acquire a 71% stake in Uganda-based Leadway Group, owner and operator of the Nankoma Rare Earths project.
The acquisition will be done in two stages. First, Altona will buy a 51% stake by 30 June. The deal includes the payment of £25,000 ($35,561) to Leadway’s shareholders, as well as the issuance of 250,000 Altona shares to them. The remaining 20% stake will be purchased at a later date, following…
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