Brazilian fertiliser developer Aguia Resources Limited (ASX:AGR) (“Aguia” or “Company”) is pleased to report that its strategic investor, Sulliden Mining Capital Limited (TSX:SMC) (“Sulliden”), has increased its shareholding in Aguia to 16.84%. A Change in Substantial Shareholder Notice has been lodged with the Australian Securities Exchange (ASX) today reflecting Sulliden’s increased holding as a result of on-market purchases, and through participating in the purchase of shares from the shortfall in the Rights Issue which was launched in January 2015. In November 2014, Sulliden became an investor in Aguia through an AUD$2 million placement to secure a 15.75% holding in Aguia. Aguia also nominated one person to the company’s Board with the appointment of Justin Reid as Executive Chairman and Managing Director in April this year.
Aguia’s Chief Commercial Officer Catherine Stretch commented: “Sulliden’s ongoing support for Aguia is very encouraging and their investment has been a significant turning point for the company.”
“As well as the financial support through placements and on-market purchasing of Aguia scrip, Sulliden has provided valuable counsel with regard to project development initiatives across Aguia’s phosphate portfolio. As a result of Sulliden’s support management has been successful in identifying new investors for Aguia”.
Aguia looks forward to updating shareholders on its operational and corporate progress in the coming weeks. The company can also confirm that its Preliminary Economic Assessment, or Scoping Study, for the flagship Tres Estradas project is expected to be released in July.