Ezenet will carry out due diligence on a coal deposit in Malawi as part of a planned expansion of its resources arm, the Nedlands-based company has announced.
The company will undertake due diligence on the Mchenga Coalfield and the Ngana Goldfields in the nation’s Northern Coalfield over an eight week period.
During this time, the company will have the right to negotiate terms on its potential acquisition of some or all of the interests.
Ezenet, which continues to work on installing various digital movie and high speed internet systems in the hospitality, healthcare and mining accommodation markets, set up its E-Resources arm last year as the holding body for its investments in the resources sector.
These investments include stakes in London-listed companies Weatherley International and KP Renewables, and Australian Securities Exchange listed Carbine Resources.
Shares in the company were down 11 per cent to 4¢ at 12.00pm.
Wednesday, 3 September 2008
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