Have a look who is making a move for mineral sands coys, especially rad the last paragraph. I read $$$$$:
Olympia up 88% as Kiernan buys big stake 19-November-07 by Andrew Hobbs
Latest News
Olympia up 88% as Kiernan buys big stake - 19 Nov, 14:54pm
Michael Kiernan-chaired Territory Resources Ltd has acquired about 14 per cent of Herdsman-based mineral sands miner Olympia Resources Ltd, causing Olympia's share price to rise sharply for the second day running.
Territory picked up Northern Mining Ltd's 7.3 million shares, equal to a five 5 per cent stake, as well as the 6.7 million shares held by Olympia director Alan Lockett and his wife, and bought a further 6.3 million shares on the market.
Olympia's share price rose 25 per cent today to 13.0 cents at 1:10 WST, after closing up 3.1 cents - or 44.9 per cent - on Friday.
The acquisition comes after Territory accepted a placement of 5 million shares from another mineral sands producer, West Perth-based Matilda Minerals, Ltd for $2.7 million in September this year.
In an interview with WA Business News in July this year, Mr Kiernan expressed a desire to consolidate ownership of all his non-gold companies, which would include Matilda, Precious Metals Australia Ltd and India Resources Ltd.
MAL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
