12th Aug 2008 10:45
12 August, 2008
Templar Minerals Limited
("Templar" or the "Company")
Update - Viso Gero Global Inc
Templar Minerals (AIM: TMP), advises that further to its announcement of 13 June 2008 that it had not yet completed payment to Viso Gero Global Inc. ("VGG") for the purchase of a further 143,290,000 ordinary shares in River Diamonds Plc ("River Diamonds"), the Company wishes to advise that the status quo remains.
The Company is taking legal advice on the terms of the agreement between itself and VGG and simultaneously carrying out a legal and accounting investigation into alleged actions by VGG or persons acting on behalf of VGG which may affect the agreed purchase price. Pending the result of those investigations the purchase price has been withheld. If necessary the results of the ongoing investigation will be put before an appropriate court for determination.
Templar will advise of any changes to the situation when information becomes available.
Contact:
Templar Minerals Limited: +27 79 872 7587
Gordon Cassidy, Finance Director
Beaumont Cornish Limited: +44 (0) 20 7628 3396
Roland Cornish, Rosalind Hill Abrahams
Related Shares:
Arc Minerals