30th Aug 2018 14:34
LONDON (Alliance News) - African Battery Metals PLC said Thursday that it decided to discontinue its Sierra Leone operations following the acquisition of two nickel projects in Cameroon and Cote d'Ivoire.
Following the transactions, the company reviewed its assets and decided to terminate its activities in Sierra Leone as the licence covering the Ferensola project in the northern part of the country was due for renewal.
"This will allow the company to focus all its resources and energies on advancing its portfolio and identifying further opportunities that fit within its investment criteria, to build value and deliver a leading battery metals-focussed resource company," African Battery Metals explained in the statement.
The company expects to appoint a liquidator to ensure a timely exit from the project.
Shares in African Battery Metals were flat at 3.25 pence each.
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