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Blenheim Natural Resources shares boosted by Zambia investment

Published: 05:17 08 Aug 2016 EDT

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The Zambia project is a copper and gold play

Shares in Blenheim Natural Resources plc (LON:BNR)  added over 7% in  early deals as it struck a deal to invest in a firm which holds a large prospective copper/gold property in Zambia.

Blenheim will pay £1 for an option to acquire, subject to certain conditions, 7.5% of the share capital of TAM Mining Ltd, which holds the exclusive rights to the West Lumba project.

African Potash Ltd (LON:AFPO) owns 8.75mln shares in Blenheim, or 4.7% and it shares gained 4% in early deals to 0.390p.

Blenheim chairman Chris Ells said: "TAM's West Lumba project is the most promising mineral project we have reviewed over the past two years and we are delighted to work with TAM to provide the commercial and technical management input needed to develop TAM's licence area and to help it raise new investment."

Blenheim shares gained 7.14% to 0.375p.

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