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Galileo Resources Agrees To Extend Glenover Sale Deadline

Fri, 28th Aug 2015 08:36

LONDON (Alliance News) - Galileo Resources PLC on Friday said it has agreed to a request from joint venture partner Fer-Min-Ore Pty Ltd to extend the completion of the sale agreement between the two to February 2016.

Galileo agreed in January to sell its rights, title, interest and shares in the capital of Glenover Phosphate Proprietary Ltd to Fer-Min-Ore for USD4 million. The deadline for completing the deal has now been extended to February 28, having initially been due to close on Friday.

Shares in Galileo were up 6.1% to 1.3 pence on Friday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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