URU Metals shares are one of the biggest movers in London on Tuesday after the company completed the sale of the Zebediela Nickel Company to Blue Rhino Capital.
Blue Rhino has now changed its name to ZEB Nickel Corp and will trade under the ticker symbol ZBNI.
The sale was initially announced at the end of July.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
John Zorbas, CEO of URU Metals, said he was pleased to complete the transaction: “The transaction with Zeb Nickel provides much needed capital for the continued development of the Zebediela Project. URU remains committed to the Zebediela Project which the Board believes can become a globally significant nickel deposit.
“This transaction delivers a lower cost of capital and resultant dilution to URU shareholders than a direct placing by URU to raise funds given the low valuation of the Company on AIM. URU’s technical team lead by Richard Montjoie will continue to lead the efforts on the advancement of the Zebediela Project and following the transaction URU is the majority shareholder of Zeb Nickel.
“The Company is a long-term and supportive shareholder of Zeb Nickel and the Board remains fully focused on developing the project and realizing its value for shareholders of both URU and Zeb Nickel. We wish the Zeb Nickel team good fortune on their listing, and believe the future is bright for both companies.”
URU’s share price is up 21.45% so far on Tuesday, priced at 512p.
URU Metals shares are traded on the London stock exchange’s AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are URU shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
