29th Jan 2016 10:14
LONDON (Alliance News) - Nyota Minerals Ltd on Friday said it continues to review options for the next stage of the development of its business, which could include non-mining acquisitions.
The AIM-listed company said historical exploration data confirms the prospectivity of the 5.0 kilometre long Alpe di Laghetto target at the Ivrea nickel-copper project in Italy, which is 70%-owned by Nyota.
The anomaly encompasses three old nickel mine workings, according to the company, with a drilling programme to be designed to test the anomaly and the mineralisation around the workings.
"The financing of junior exploration companies remains extremely challenging, and whilst the directors continue to evaluate projects and opportunities in the mineral resource sector that become available to them, the board is also considering acquisition opportunities in complementary or new sectors that could potentially offer superior shareholder value," Nyota said.
Shares in Nyota were flat at 0.0625 pence on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
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