Ortac Resources said it has subscribed for an additional 62,500 shares in Casa Mining Ltd for a consideration of $50,000 to maintain its stake of 19.5%. This followed an investment by Premier African Minerals to acquire a 4.5% holding in Casa. Based on Premier's consideration paid, Ortac's interest in Casa is valued at about $1.1m, a significant uplift on its investment to-date in the company. Premier's payment of S$250,000 for a 4.5% holding in Casa valued that company at $5.57m.
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