LONDON (Alliance News) - Savannah Resources PLC on Thursday said the long-stop date for completion of its Mozambique joint venture agreement with Rio Tinto PLC has been extended.
Under the deal agreed in June 2015, Savannah's Mutamba, Dongane and Jangamo heavy mineral sands prospects, together called the Jangamo project, will be combined with Rio Tinto's Chilubane project.
The long-stop for the deal had already been extended to the end of March, having previously been set for October 19, 2015, but has now been extended to the end of June.
Savannah shares were down 3.7% to 1.95 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Rio Tinto (RIO)
Savannah Resources (SAV)
