Obtala Resources Limited (LON:OBT) has received a second and final payment of US$300,000 from Global Timber Investment Limited under the investment agreement concluded in February.
That saw three separate investors, one of which was Global, take stakes of less than 20% in three newly formed holding companies for US$3mln overall.
In return the investors will receive a 5% fixed return from Obtala’s timber concessions plus a pro-rata share of any income.
Obtala’s timber concessions cover 315,000 hectares in Mozambique.