Share Name Share Symbol Market Type Share ISIN Share Description
Zambezi Nickel LSE:ZNI London Ordinary Share BMG9884M1064 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 6.40p 0.00p 0.00p - - - 0 06:37:39
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Unknown 0.0 -0.4 -1.0 - 0.00

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Date Time Title Posts
17/11/200717:26Nanocap Uranium Stock118
03/10/200721:32Zambezi Nickel64

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johndee: don't know if that positive news or not..............nothing moves this share price anymore..............
amazon_woman: Lithic Metals&Energy Proposed Acquisition RNS Number:4006G Lithic Metals and Energy Limited 26 October 2007 26 October 2007 Lithic Metals and Energy ("Lithic" or the "Company") Proposed Acquisition of Mineral Assets in Togo * Proposed acquisition of RRCC Limited ("RRCC") for #1 million * RRCC, through its wholly owned subsidiary, owns a 90% interest in 19 granted mineral exploration licences in Togo * Licences cover known nickel, copper, chromite, zinc and uranium mineralisation Lithic Metals and Energy (AIM: LMY), the AIM-quoted African nickel and uranium exploration and development company, today announces the signing of a purchase and acquisition agreement made between (i) Lithic; (ii) Stephen Dattels; (iii) Michael Beck; (iv) Chiropo Company S.A.; (v) Angstrom Capital Limited; (vi) George Roach; (vii) Bruce Cumming; (viii) J Stalker Discretionary Settlement; (xi) RRCC Limited and (x) Regent Resources Capital Corporation S.A.U., to acquire the entire issued share capital of RRCC (the "Purchase and Acquisition Agreement"). The consideration set out under the Purchase and Acquisition Agreement is #1 million, which is to be satisfied by the issue of 15,384,615 ordinary shares of 1p each in the share capital of Lithic at a price of 6.5p per share (being the average share price of the Company over the previous 30 days) (the "Consideration Shares") and a further cash payment of US$375,000, paid in quarterly instalments. The Purchase and Acquisition Agreement is subject to standard conditions precedent which include the successful completion of due diligence, the hand over of key documents and the final approval of the Company's Board of Directors and, as set out below, a further announcement will be made in due course when those conditions are satisfied. RRCC, through its wholly owned subsidiary, owns 90% of 19 granted mineral exploration licences in Togo (the government of Togo holding the balance), which comprise the following projects: Haito Project * Nickel mineralisation identified in test pits, soils and rock chips to 4% Ni over a large ophiolite complex. * Nickel values >1% Ni in soil sampling over 1.5km(2) area in an anomaly that increases in grade and is open to the North. * Nickel values >1% Ni over 2km(2) area in test pitting of a separate area to that soil sampled. * Chromite grading up to 43% historically mined from one of numerous outcropping occurrences. * Substantial exploration potential for nickel saprolite and laterite style deposits plus chromite resources. * Most of the prospective ophiolite remains untested. * Platinum exploration potential recognised. Pagala Project * Known SEDEX Zinc (Zn) deposit previously explored by Anglo American. * Substantial, wide-spaced, historical drilling targeted geophysical anomalies generated by multiple ground and airborne surveys. * Drill intercepts include 6m @ 11.37% Zinc from 16m, with grades up to 28% Zn. * Walk-up drill targets with future exploration aiming to complete sufficient drilling to define a JORC compliant resource. * Lithic believe there is potential exploration upside to delineate additional zinc resources. Niamtougou - Kara Project * Historical exploration identified pitchblende and uranophane uranium mineralisation over a number of prospects in drilling and trenching. * Uranium grades to 1500ppm (0.15%) U3O8 in drilling and trenching. * As far as Lithic is aware, no modern exploration has been conducted on the project area. * Licences cover a major regional structural feature that is believed to control uranium mineralisation and which remains largely unexplored. * Lithic believe there is potential exploration upside to convert drilled uranium occurrences into JORC compliant Resources. * Lithic believe the region is highly prospective for uranium. Background RRCC, a British Virgin Isles registered company owns a 90% interest in 19 granted exploration licences in Togo, West Africa, through its local 100%-owned subsidiary Regent Resources Capital Corporation S.A.U. The three key shareholders of RRCC (being Chiropo Company S.A, Angstrom Capital Ltd and George Roach) currently collectively hold 20,000,001 ordinary shares of 1p each (" Ordinary Shares") in Lithic (being 26% of the issued share capital of Lithic). Following the completion of the Purchase and Acquisition Agreement, these three shareholders would each receive 4,000,000 Ordinary Shares as part of the issue of the Consideration Shares. These three key shareholders would then collectively hold 32,000,001 Ordinary Shares in Lithic (being approximately 35% of the then issued share capital in Lithic). The 19 exploration licences cover known nickel, copper, chromite, zinc and uranium mineralisation. At this stage, these projects are at an early stage and accordingly there are no profits associated with the assets. The book value of the assets is #375,000. Commenting today on the proposed acquisition, Lithic Managing Director, Jim Kerr, said "The execution of the Purchase and Acquisition Agreement is a significant step forward for Lithic, which should bring to the Company an exciting suite of exploration assets, all with known mineralisation. Several factors attracted us to the Togo assets: known economic grades of nickel, copper, chromite, zinc and uranium over wide areas; a lack of modern exploration which creates potential advantages for companies with available resources if they access the sites early - particularly with respect to making further mineral deposit discoveries; exceptional regional infrastructure in the form of sealed roads, rail and port facilities and a positive outlook towards foreign investors following last week's successful general election." About Togo Togo is a Francophone West African nation bordered by Ghana to the west, Benin to the East and Burkina Faso to the North. The nation is a regional commercial and transport hub, with deep water port facilities serviced by rail and a sealed highway running the length of the country. The capital city of Lome is serviced by regular flights to Europe and other African countries. The Togolese economy relies on the production of cotton, coffee and cocoa, with the mining of phosphates making up the most significant element of the natural resources sector of the economy. In recent years, Togo has strived to normalise relations with its neighbours and the EU. Sanctions were imposed on Togo after human rights violations occurred in the last years before the death of former President Eyadema Gnassingbe in 2005 (after 38 years in power). Since 2005 under President Farue Gnassingbe, the country has focused on stabilising the nation and setting foundations for fair, open and democratic elections, a process which culminated in the successful general elections held last week. The success of the recent general elections paves the way for the normalisation of Togo's international relationships and creates a more positive investment climate that already offers economic advantages to companies looking to operate in the country. Summary Completion of the Purchase and Acquisition Agreement should occur in approximately one month's time, with exploration activities commencing immediately thereafter, at which time a further announcement will be made. At the same time as that announcement, application with be made for the Consideration Shares to be admitted to trading on AIM. The directors of the Company consider, having consulted with the Company's nominated adviser, WH Ireland Limited, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned. For further information, please contact: Lithic Metals and Energy Jim Kerr Telephone: +61 8 9216 9000 WH Ireland David Youngman Telephone: 0161 832 2174 Conduit PR Jos Simson/Jane Stacey Telephone: 0207 429 6603 This information is provided by RNS The company news service from the London Stock Exchange END MSCMABRTMMMTBPR
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