Investika increases stake in Belitung zinc/lead prospect

London Stock Exchange-listed firm Investika Ltd announced Friday it had agreed to issue a total of 2,316,987 fully paid ordinary shares to increase its percentage equity interests in Tarquin Resources plc and Belitung Zinc Corporation plc from 40.2% and 42.5%, respectively to 83.8% and 100%, respectively.

As a result of these transactions, the Company has increased its interest in its Chilean Copper project to 91.7% and its interest in its Belitung Zinc/Lead project to 100%.

Belitung Zinc Corporation plc holds an 85% profits interest in the Kelapa Kampit Zinc/Lead project on the island of Belitung.

The consideration for the acquisition of shares in Belitung Zinc Corporation plc is 1,150,000 ordinary shares in the Company with a value of A$5,060,000, the company said. (alex)