Investment Update

RNS Number : 6556A

Gunsynd PLC

27 March 2017

 

Gunsynd plc

("Gunsynd", or the "Company")

Investment Update

Gunsynd announces that it has disposed of 887,500 shares in Zenith Energy Limited ("Zenith") for consideration of £96,939, and that it has also disposed of 5,500,000 shares in Alba Mineral Resources plc ("Alba") for consideration of £15,687. Gunsynd now holds 6,276,834 shares in Zenith representing a total of 5.53% of Zenith's total issued ordinary share capital and 86,500,000 shares in Alba representing a total of 4.63% of Alba's total issued ordinary share capital.

The Company further announces that Brazil Tungsten Holdings Ltd ("BTHL"), in which Gunsynd holds a 10% interest, has informed the Company of its production numbers for January and February 2017, which were 17.0 and 15.6 tonnes of concentrate respectively.

Hamish Harris, Executive Chairman of Gunsynd, commented:

"It is pleasing to see the sustained growth in monthly production numbers from BTHL. This together with the recent improvement in tungsten prices, combined with the recent application for the new Tarantula mine underline the value of this asset as an investment proposition and give us confidence in extracting value from this investment in the future.  We are also pleased to have been able to sell down a small part of our investment portfolio at a healthy profit in order to generate funds for future investments"

Gunsynd plc:
Hamish Harris	[phone]
Nominated Adviser / NEX Exchange Corporate Adviser:
Cairn Financial Advisers LLP
James Caithie/Liam Murray	[phone]
Joint Broker:
Peterhouse Corporate Finance
Lucy Williams	[phone]

 

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