Perseus Mining and Predictive Discovery shares rise on stake hike
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More news: Shares in gold explorers Perseus Mining and Predictive Discovery both advanced on the ASX after Perseus increased its stake in the ASX minnow from 13.82% to 19.9%.
Perseus shares lifted 0.8% to $2.47 by 12:35pm AEST, while Predictive soared 10.2% to $0.24.
Perseus Mining hikes stake in small cap Predictive Discovery
The news: Gold explorer Perseus Mining has increased its stake in ASX minnow Predictive Discovery to 19.9%.
The numbers: Last month, Perseus announced that it had acquired a 13.82% interest in Perth-based Predictive Discovery as a "strategic equity investment".
The context: Perseus said that the increased shareholding was partly funded through applying proceeds raised from the unwinding of its previously announced cash settled equity swap position in Predictive.
Perseus noted it had no current intention to acquire control or make a takeover bid for Predictive.
Predictive is an emerging mineral development company and owner of the Bankan gold project, a pre-development site in Guinea, West Australia.
The source: ASX announcement
