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20 Dec 2010 07:00
Obtala Resources Limited
("Obtala" or "the Company") (AIM:OBT)
Projects Update, Tanzania
The Board of Obtala Resources Limited, the resources investment, development and production company, today announces that further to the press release dated 7th December 2010, the Company has not been able to reach a satisfactory conclusion in negotiations with Stamico relating to the Buckreef gold project. The Company believes it is in the best interest of its shareholders to focus on other opportunities that have recently presented themselves to Obtala. The Company is currently evaluating specific precious metals projects in Tanzania and will inform the market of any further developments.
Contact:
Obtala Resources Limited |
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Simon Rollason - Managing Director Frank Scolaro - Chairman www.obtalaresources.com | +44 (0) 20 7099 1940
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ZAI Corporate Finance Ltd |
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Ray Zimmerman/ Sarang Shah | +44 (0) 20 7060 1760 |
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Threadneedle Communications |
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Laurence Read | +44 (0) 20 7653 9855 |
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