17th Sep 2014 07:36
LONDON (Alliance News) - Bellzone Mining PLC shares took a hit on Wednesday after it said it remains in talks with China Sonangol International in order to reach an agreement on the final satisfaction of its loan agreement, and said it is still in talks with other potential long-term financing providers.
Bellzone shares were down 20.3% to 0.55 pence in opening trade, making it the second worst performer on the AIM All-Share index.
Bellzone only has funding at present to continue operations until the middle of this month and will require new funding under the China Sonangol deal or other sources of funding early in the week commencing September 22 in order to continue operations.
Bellzone said that there is no certainty the required financing, either short or long term, will be secured.
By Sam Unsted; [email protected]; @SamUAtAlliance
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