Black Mountain buys Uganda projects

February 4, 2016

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Explorer Black Mountain Resources has inked an agreement with recently established African Phosphate to acquire the Namekara Mining Company, which holds a vermiculite mine and a phosphate project in Uganda.

Under the terms of the agreement, ASX-listed Black Mountain would acquire Namakera Mining through the issue of 400-million of its own shares, and a 1%royalty on revenue from mineral production.

Category: General