Praetorian: Praetorian Resources shares soar as it offloads stake in palm oil firm

Shares in Praetorian Resources (LON:PRAE) doubled in value as the firm sold its entire stake in Equatorial Palm Oil (LON:EPO).The Guernsey-based investment company offloaded its full holding for £637,500 in cash, higher than EPO's book value of £552,000.The palm oil producer, which has plants in Liberia on the West African cost, had been part of Praetorian's portfolio since the vehicle listed on AIM back in 2012.Praetorian, which also holds stakes in ASX-listed Ausgold and TSX listed Maya Gold & Silver, said the funds raised will be used to provide additional working capital for the company.Shares were up over 100% in early afternoon deals and trading at 5.8p.

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Praetorianresources is a Private company. Praetorianresources has a revenue of $10M, and 10 employees.