Tembo support for Strandline

PRIVATE equity firm Tembo is backing Tanzania-focused mineral sands junior Strandline Resources to the tune of nearly $A2.3 million, with brokerage Hartleys and Tembo to underwrite a further $4.3 million rights issue.

Tembo support for Strandline Tembo support for Strandline Tembo support for Strandline Tembo support for Strandline Tembo support for Strandline

Priced at a premium to the Strandline’s most recent share price close, the raising would appear a good endorsement of the ASX-listed company’s staged strategy to build a substantial mineral sands