Valiant Investments has announced that it has invested a further US$50,000 into Trilith Resources.
Valiant said that the funds will be used by UK-based Trilith to acquire natural resource projects in Zambia and Tanzania, with a principle focus on gold and copper mineralisation.
UK-based Valiant has now invested a total of $150,000 (approximately €104,000) into Trilith.
In July, the company announced that it had entered into an investment and option agreement with Trilith, under which it would invest up to $300,000 to enable Trilith to secure mineral projects in Africa—particularly gold and copper in Zambia and Tanzania.
Trilith has two subsidiary companies, one domiciled in Zambia and the other in Tanzania, of which it owns 95 per cent of the issued share capital in each.
At the time of the July agreement, Conrad Windham, Valiant’s chief executive officer, said: “I am delighted that Valiant has completed these agreements with Trilith. This is a transaction that has the potential to be transformational for Valiant.
“Trilith has already identified a number of potential projects for acquisition in Zambia and Tanzania, and we therefore expect it to build a portfolio of projects in the region in a short period of time. We will keep the market closely informed on all areas of this transaction over the coming weeks.”
