LONDON (Alliance News) - Richland Resources Ltd on Monday said it has agreed to extend the longstop date on the sale of its tanzanite mining and benefication businss and tsavorite licence interests in Tanzania to Sky Associates Group Ltd.
Richland said the longstop date on the deal has been extended to March 16 from February 23.
The company said it is working with Sky Associates to close the sale and expects the deal to complete on or before the new longstop date.
Richland shares were down 7.5% to 1.85 pence on Monday morning, one of the worst performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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