Sign up Australia
Proactive Investors - Run By Investors For Investors

Tethyan Resources secures new cornerstone investor

Tethyan has secured new funding and a new partner with Canadian capital markets experience
Tethyan Resources secures new cornerstone investor
Tethyan's Serbian ground is prospective for copper

Tethyan Resources PLC (LON:TETH) has secured a new cornerstone investor in Southern Arc Minerals Inc (CVE:SA).

Southern Arc has agreed to subscribe for 16.5 mln new ordinary shares in Tethyan at a price of C$0.036 per share, bringing at total of £353,570 in new money into the company.

The money raised will be used to fund work on Tethyan’s prospective copper porphyry targets in the Republic of Serbia.

WATCH: Tethyan CEO Peter Mullens speaks to Proactive's Stocktube

In addition, Southern Arc has acquired a block of just over 14.6 mln shares in Tethyan from Newmont, bringing Southern Arc’s total holding in Tethyan to 29.15% of the enlarged issued share capital.

A plan to list Tethyan on the Canadian Venture Exchange has now been set in motion, and two Southern Arc directors will join the Tethyan board.

 

View full TETH profile View Profile

Tethyan Resources PLC Timeline

Related Articles

zeolite mine
September 15 2018
Zeolite may not be the most well-known mineral but it has wide applications, such as use in animal feed, as a pozzolan in cement and as an additive to soil, which could be used for cannabis plants
A view of DRDGOLD's flagship Ergo asset in Johannesburg
May 01 2018
The South African miner’s appeal lies with the gold bull as bullion prices seen moving north
1522151008_gold_bars,_sized.png
July 17 2018
Orsu Metals looks set for a transformative year, with a sizeable gold resource expected in an already prolific area

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use