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IN BRIEF: Savannah Resources To Sell Its Copper Assets In Oman

Tue, 01st Sep 2020 21:48

Savannah Resources PLC - energy metals - Following strategic review, Savannah Resources agrees to divest its copper projects in Oman to ASX-listed mine development firm Force Commodities Ltd. Force Commodities will issue 50.0 million shares, make a preferential payment of AUD3.5 million on an existing loan, and a payment of a 1.0% net smelter royalty on future metal sales. Deal expected to be completed in October.

Current stock price: 2.03 pence

Year-to-date change: down 9.8%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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