6th Apr 2016 07:44
LONDON (Alliance News) - Firestone Diamonds PLC on Wednesday said it has agreed to extend the deadline to complete the sale of its operations in Botswana to late July.
Firestone said the deadline to complete the deal is now July 29, from April 8 previously, in order to allow Tango Mining Ltd, which is acquiring the assets for USD8.0 million, to finalise a proposed USD30.0 million loan to back the deal.
The loan will back the restart of operations at the BK11 mine.
Firestone shares were down 4.0% to 27.12 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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