Black-controlled financial services group Vunani Holdings has announced it would like to up its stake in Wesizwe Platinum to at least 15 per cent by "mopping up any shares available", thus signalling its intent to become one of the platinum sector's major players.

The announcement from managing director Ethan Dube, which came as the company increased its present shareholding in the platinum junior to 6.6 per cent, formed part of an interview with Mining World (MW) in which he outlined the company's strategy.

According to Mr Dube, acquiring a stake of that size in Wesizwe would provide Vunani with an investment platform from which it would provide other juniors with investment.

However, he ruled out investment in juniors unless it was via Wesizwe, in which case other companies would be acquired solely to improve Wesizwe's levels of resources.

"Whatever we pick up from the platinum juniors coming to us, we are bringing to Wesizwe to see if they are interested. There are one or two out there that require capital," he told MW.

Mr Dube added that the fact that Vunani is a black-owned company makes it a good fit with Wezizwe which has in the past outlined its commitment to black empowerment.

Source:

Vunani may lift Wesizwe stake as high as 20%, 30/04/07
http://www.miningweekly.co.za/article.php?a_id=108179


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