Blackthorn Resources shares jump 20%

SYDNEY (AAP) March 23 - Africa-focused miner Blackthorn Resources Ltd's shares shot up by more than 20 per cent after Swiss giant Glencore took a $10 million stake in the company.
Glencore on Wednesday bought more than 16 million ordinary shares at 62.45 cents per share, a 20 per cent premium to the 45-day volume weighted average price.
Blackthorn Resources shares closed up 11 cents, or 20.56 per cent, at 64.5 cents.
Mining and commodities trading giant Glencore is now Blackthorn's largest shareholder with a holding of 13 per cent.
Gencor and Blackthorn entered into a joint venture in January 2010 to develop a stalled zinc mine, the Perkoa Zinc Project, in Burkina Faso, in west Africa.
The companies will investigate expanding the Perkoa project to produce lead and silver.
Blackthorn, which has a market capitalisation of $57 million, is also in a joint venture with BHP Billiton Ltd developing an iron oxide copper gold project in Zambia.
Other Australian zinc miners Terramin and Ironbark Zinc have also benefited in the past year from foreign companies paying premiums for their shares.