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Zamia Metals: Brownstone International increases stake to 18.46%

Zamia Metals (ASX: ZGM) substantial shareholder Brownstone International acquired 17,917,808 shares at $0.085 per share on 4 November 2011.

The shares were for a consideration of $1,523,013 and issued for a loan repayment.

Also, Brownstone acquired 2,380,953 for $250,000 through a placement on 6 April 2011.

Brownstone now holds 43,055,716 in Zamia Metals representing a 18.46% interest in the company, a substantial increase from its previous 12.5% stake.

Brownstone International Pty Ltd is a private company based in Perth.

Zamia Metals is currently executing a two-track strategy at the Anthony molybdenum project in the Clermont district of Central Queensland.

The company now has a regional exploration program established for gold and copper at Clermont, with the target the establishment of other resources on the company’s large tenement portfolio in the district.