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IN BRIEF: Savannah says deal with MRG Metals on mining asset expired

27th Jan 2023 10:46

Savannah Resources PLC - Europe-focused lithium development company - Says the period to conclude an option agreement with MRG Metals Ltd for its remaining mining concession in Mozambique has expired. Both parties have mutually decided not to proceed with entering into an option agreement.

On December 30, Savannah extended MRG Metals' due diligence period for the proposed transaction between its subsidiary AME East Africa Ltd and MRG Metals to Friday. The proposed transaction was first announced in early November.

Current stock price: 2.60 pence, down 3.6%

12-month change: down 41%

By Greg Rosenvinge, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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