Merafe Resources Maintains Interest in Lion Ferrochrome Project

Mining Weekly reported that Merafe Resources (OTC Pink:MERFF) will not increase its stake in the Lion ferrochrome joint venture, citing market uncertainty.

As quoted in the market news:

The ferrochrome producer’s stake in the Limpopo-based venture would have increased from 20.5% to 26%, but would have been in the form of new equity. The company’s lack of confidence in current equity market conditions drove the decision to maintain its existing stake.

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