LONDON (Alliance News) - Richland Resources Ltd Friday said the exclusivity period granted to Kibaran Resources Ltd for the consolidation of Kibaran's graphite assets in Northern Tanzania with those of Richland's local joint venture has been extended by six months.
The exclusivity period for pursuing a joint venture between Kibaran's assets in the region with those of the existing joint venture between Richland's Tanzanite One Mining Ltd subsidiary and State Mining Corp of Tanzania will now expire on February 5, 2015.
The extension has been made in order to provide the companies more time to finalise a binding agreement.
Richland shares were flat at 3.25 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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