Blenheim is an AIM listed investing company with a focus on making investments in projects and assets in the natural resource sector.
The net proceeds of the Placing will be used by Blenheim to make further investments in accordance with its investing policy, including to fund the cash consideration, should Blenheim exercise its the option to acquire a 30 per cent interest in the Dieba exploration permit in Southern Mali (“Dieba”) from Xantus Inc. Dieba is adjacent to Birimian Limited’s successful Bougouni Lithium Project.
Commenting on the option, Chris Ells, Blenheim’s Chairman said: “Dieba is a very promising grass-roots’ project and we are delighted to have this opportunity to acquire a significant interest in this venture. We consider this to be a strategic investment into a dynamic, well-run exploration project, especially as lithium has been, and is likely to remain, one of the best performing mineral commodities. During the option period, we will perform due diligence and conduct an interpretation of airborne geophysical and other data, before we make a final investment decision. We believe that there are good opportunities for further lithium projects in Mali and elsewhere.”
The Placing is BWB’s second corporate finance mandate for Blenheim. Chris Ells commented: “Having worked with BWB on our previous placing and acquisition, we were delighted that BWB displayed the same high level of commercial awareness, dedication and attention to detail when advising us on our oversubscribed placing which was of strategic importance to the long-term commercial aims of Blenheim.”
Lawyer: Stephen Callender (Corporate Partner)