WATERBERG Coal Company has increased its stake in fellow South African coal explorer Firestone En...
WCC said its offer, which closed on September 23, resulted in the acquisition of 1.15 billion ordinary Firestone shares, which amounted to a 32.36% stake.
WCC also separately acquired 480,000 shares from Sekoko Resources that equated to a 13.52% stake of Firestone.
With feasibility work still underway, Firestone aims to start mining in the Waterberg coal region during the first quarter of 2014.
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