Resolute bought another 120 million shares over the past three weeks, with it previously holding 164.8 million shares equating to 7.77%.
At a price of 0.3c, the 120 million bought recently would barely have registered as a blip at the miner’s treasury – with previous shares bought from levels of 0.18c and above.
But it’s intriguing nonetheless.
Manas is in the process of acquiring ground in Tanzania, some of which Resolute used to hold.
It isn’t immediately clear why Resolute would be interested in this given it only just exited the country.
On the other hand Manas’ long stalled Shambesai project is an obvious value proposition, given it seems to b...