22nd Sep 2014 09:40
LONDON (Alliance News) - Bellzone Mining PLC Monday said it has yet to come a financing agreement with China Sonangol International Pte Ltd and said it has requested trading in its shares be suspended until it can provide clarification on its financial position.
Bellzone's shares took a big hit last week after it said it was still in talks with China Sonangol 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 said last week it would need further financing in the early part of this week in order to continue operations. It said it has requested a suspension to trading in its shares as it continues to work to find a financing solution to allow it to remain in operation.
The company said there is no certainty a deal will be secured on either its long-term or short-term financing.
Prior to the suspension, Bellzone shares were quoted at 0.525 pence per share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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