09:48 AM EST - Serengeti Resources Inc. : Has successfully closed its deal with DAEWOO Minerals Canada Corp., a 100% owned Canadian subsidiary of POSCO DAEWOO Corp, one of South Korea's leading trading corporations, whereby POSCO DAEWOO may earn up to a 35% interest in Serengeti's Kwanika copper-gold project by providing funding of $ 8.2 million. The initial $1.2 million investment has been paid into the joint venture account from which Serengeti will receive an up-front cash operating fee of $400,000. Serengeti Resources Inc.
shares V.SIR are trading up $0.01 at $0.01.
