Tharisa has restructured its acquisition of Salene Chrome Zimbabwe, under which it has been granted a call option to acquire a 90% stake at a par value of $90, subject to a $3.2 million exploration spend.
The South African chrome and platinum group metals miner announced in May that it had acquired 90% of Salene, for an undisclosed sum, from the Leto Settlement Trust, which has family links to Tharisa chief executive officer Phoevos Pouroulis and is the beneficial shareholder of Tharisa's major shareholder, Medway Developments Ltd. The option is exercisable upon...