Metals X buys 20% of Jabiru Metals

Consolidated Minerals has sold its 24.7 per cent shareholding in Jabiru Metals, with East Perth-based Metals X picking up a 19.99 per stake in the miner.

Jabiru said in a statement today that it had been advised that Consolidate Copper, a subsidiary of ConsMin, had sold its entire shareholding in the company.

Metals X, which has similar projects to Jabiru, picked up the majority of the stock sold.

Metals X said Jabiru had excellent longer-term growth prospects and will seek board representation on the company's board.

Shares in Metals X closed unchanged at 10 cents while shares in Jabiru closed up four cents to 40c.