StockMarketWire.com - Cradle Arc said it had granted Singa Holdings Zambia an option to either establish a joint venture with subsidiary Luiri Gold Mines or acquire it outright for $2.5m.

Luiri holds the Matala and Dunrobin gold assets in Zambia.

In the event of an acquisition, Cradle Arc would receive a royalty of 1.5% of gross revenue generated from thegold assets, up to a maximum aggregate amount of its net present value of $2.5m, discounted at 8%.


At 2:53pm: [LON:CRA] Cradle Arc Plc share price was 0p at 6.98p



Story provided by StockMarketWire.com