23rd Apr 2015 08:56
LONDON (Alliance News) - Sula Iron and Gold PLC said Thursday it has continued talks with potential joint venture partners and made progress at its projects in Sierra Leone over the last few months, while it also has agreed the early expiration of a financing facility.
The company said it agreed with Darwin Strategic Ltd to allow their GBP2.0 million equity financing facility agreement to expire early. No funds were drawn down under the agreement.
Sula is currently working on a new school under its corporate social responsibility programme, and said that this project is now 70% complete. It also has constructed a new four-mile road between the villages of Wasima and Morberyia in the Samaya Bengudu Chiefdom.
The company said it remains on track to generate drill targets on its gold project, and advance its coltan project towards bulk sampling for metallurgical testing.
Shares in Sula Iron and Gold are trading up 9.1% at 1.15 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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