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Petmin to pay C$4.64m for 10% of Red Crescent Resources

Mineweb | May 17, 2011 | 7:29 am Base Metals Copper 

Red Crescent Resources (RCB.TO: Quote) said on Monday that South African miner Petmin (PEMJ.J: Quote) has agreed to acquire a 10.1 percent stake in the Canadian exploration company for C$4.64 million ($4.78 million).

Separately, Red Crescent said it had signed a new definitive agreement with privately held Gensay to acquire a 75 percent interest in the Sivas copper project in central Turkey.

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