URA Holdings Acquires Majority Stake in Curlew Emerald Mine
London-listed URA Holdings, owner and operator of the Gravelotte emerald mine in Limpopo, South Africa, has acquired a majority interest in Prasinus Exploration, the owner of the Curlew emerald mine in Western Australia’s Pilbara region.
URA purchased a 65% interest in Prasinus for A$450,000 (approximately £237,000) and has the option to acquire the remaining 35% interest for an additional A$300,000 (about £158,000) in URA shares after a 12-month period, which expires on October 18, 2025.
“We are thrilled to add a controlling interest in the Curlew mine to our portfolio. This acquisition not only solidifies our presence in the emerald mining industry but also aligns with our strategy to invest in high-potential projects with strong growth prospects,” said URA chairperson Ed Nealon.
He emphasized that the Curlew mine’s history and recent production success demonstrate its significant potential for scaling up and expansion. The mine is capable of producing larger, high-quality stones, complementing URA’s existing activities at Gravelotte.
Nealon also noted that the Curlew mine has existing infrastructure, machinery, and equipment ready for a rapid restart of mining operations.
To finance the acquisition and provide working capital, URA has placed 26.56 million shares with existing institutional investors at a price of 1.6p each, raising £425,000 before expenses.
