zareba to acquire uranium asset within a month Zareba To Acquire...

zareba to acquire uranium asset within a month Zareba To Acquire Uranium Asset Within A Month - Sources

Saturday February 12, 2005, 4:22 am

Zareba To Acquire Uranium Asset Within A Month - Sources

February 11, 2005 12:16 ET (17:16 GMT)


Zareba To Acquire Uranium Asset Within A Month - Sources


By Sarah Thompson


Of DOW JONES NEWSWIRES


LONDON (Dow Jones)--Zareba, due to make its debut on London's Alternative Investment Market Monday, will make a significant acquisition within a month, people familiar with the deal told Dow Jones Newswires.


The U.K. mining shell is to announce the purchase of a "huge" uranium asset in Australia, the sources said.


Zareba has been established for the purpose of making investments in the mining and minerals sectors. It is being floated Monday at one penny.


Executive Chairman Brian Moritz is a director of Southern African Resources (SFU.LN), the shares of which have gone from three pence to 35 pence within 18 months.


Zareba's directors are also involved in Zari Resources PLC (ZAR.LN), which floated at 1 penny in July 2004 and closed today (Friday) at 4.13 pence.


A spokesman for Zareba said: "There are some assets we are looking at, and a uranium asset in Australia is one of them. It hasn't been dismissed out of course."


-By Sarah Thompson, Dow Jones Newswires; +44-20-7842-9280; [email protected]