Tertiary Minerals PLC - Mineral exploration and development company - Gives update on signing of term sheet to allow a third party to earn into the Konkola West project in Zambia. Says the third party has now finished due diligence investigations, and the relevant parties are now reviewing draft agreements, with a view to finalising as soon as possible. Adds that all parties have re-affirmed their commitment to completing the transaction.
Executive Chair Patrick Cheetham says: "I am pleased to be able to provide the market with this reassurance and we look forward to updating the market further in due course with details of the agreement and the third party's exciting plans for drilling at Konkola West."
Current stock price: 0.12 pence, up 14% in London on Thursday at noon
12-month change: down 33%
By Holly Beveridge, Alliance News reporter
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Tertiary Minerals (TYM)