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Mineral & Financial Investments Ltd - Cayman Islands-based investment company specialising in junior mining companies - Has agreed to change the terms of its Redcorp earn-in contract with Ascendant Resources partly due to global lockdown. The changes include the renegotiation of a USD500,000 payment which will be paid over six months at USD100,000 per month, totaling USD600,000. M&F has received the equivalent of 32% of the expected payment this month. In the event of Ascendant raising financing, or a change of control, the amount owed will be paid on closing.
Current stock price: 8.00 pence
Year-to-date change: down 20%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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