New Century Resources
(ASX:NCZ) has announced it will move to full ownership of the Century Zinc Mine if a conditional acquisition from Century Bull goes ahead.
Resources company Century Bulls owns 30 per cent interest in the Century Mine Rehabilitation Project, with New Century owning the remaining 70 per cent.
The 30 per cent interest in the mine through the purchase of Century Bull will give Century Resources 100 per cent ownership.
The allocation of equity securities to Century Bull shareholders will be 126 million ordinary shares and 35 million options with a three year expiry.
The proposed acquisition is conditional on New Century shareholder approval.
Shares in New Century Resources
(ASX:NCZ) last traded 3.6 per cent higher to $1.15.
