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Richland Resources Once Again Extends Capricorn Sale Longstop

Mon, 02nd Dec 2019 17:17

(Alliance News) - Richland Resources PLC has extended the longstop date for its Capricorn project sale to Fura Gems Inc for a week, it said Monday.

Previously, the longstop date for the sale had been the end of November, but this has been moved to December 7.

"The revised longstop date will enable the parties to finalise the remaining legal formalities in relation to the completion of the proposed disposal," said Richland.

The deadline was extended in mid-November, to again give the two more time to complete the deal. In July, Fura announced it had exercised its option to buy the Capricorn project for CAD150,000.

Richland shares closed 5.6% higher on Monday in London at a price of 0.095 pence each.

By George Collard; georgecollard@alliancenews.com

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