Savannah Resources PLC - London-based lithium development company - Extends due diligence period for proposed transaction between its subsidiary AME East Africa Ltd and MRG Metals Ltd. Says proposed transaction is sale of Mining Concession 9735C in Mozambique, relating to an option agreement entitling MRG Metals to acquire it. Extension is to January 27 from Saturday last week. Says both parties agree to allow more time for MRG Metals to conduct due diligence, while all other aspects of the proposed transaction, first announced in early November, remain unchanged.
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By Greg Rosenvinge, Alliance News reporter
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Savannah Resources (SAV)