CityView increases stake in Angolan Metals projects

Perth-based CityView Corporation Ltd has lifted its working stake in both the Longonjo Metals and Ucua Beryllium projects from 69 per cent to 74 per cent after committing to spend $222,546 on the latest stage of the work program.

The full text of a company announcement is pasted below

CityView Corporation Limited today has lifted its working stake in both the Longonjo Metals and Ucua Beryllium projects from 69% to 74%. The 74% working interest equates to a net project ownership interest of 51.8%.

In exchange for the increased stake, CityView has agreed with Petro African Energy plc to fund the next phase of the work program budgeted at US$200,000. CityView has management control of both projects.