Blenheim Natural Resources PLC Lapse of TAM Mining Limited option (3390N)
August 08 2017 - 2:00AM
UK Regulatory
TIDMBNR
RNS Number : 3390N
Blenheim Natural Resources PLC
08 August 2017
8 August 2017
BLENHEIM NATURAL RESOURCES PLC
("Blenheim" or the "Company")
Lapse of option to acquire an equity interest in TAM Mining
Limited
Blenheim advises that its option to subscribe for 7.5% of the
share capital of TAM Mining Limited ("TAM"), announced on 8 August
2016, has lapsed.
The Company held an option, exercisable by Blenheim within a
period of 6 months of (i) TAM obtaining an NI 43-101 compliant
resource statement; or (ii) within 12 months of the date of the
agreement, whichever was sooner, to acquire, subject to certain
conditions, 7.5% of the fully diluted issued share capital of TAM,
by assisting TAM to raise a minimum of US$5 million. The conditions
have not all been satisfied in full and the option has therefore
lapsed.
Blenheim's Chairman, Chris Ells, commented: "We are disappointed
that the conditions to exercise the option were not fully satisfied
within the option period. We continue to believe that the West
Lumba project is highly promising and we will consider other ways
to invest, whilst also reviewing other investment
opportunities."
Ends
For further information please contact:
Blenheim Natural +44 (0) 1622
Chris Ells Resources Plc 844601
Colin Aaronson/Jamie
Barklem/ Daniel Grant Thornton UK +44 (0) 20
Bush LLP 7383 5100
+44 (0)1483
Nick Emerson SI Capital Ltd 413500
Lucy Williams / Peterhouse Corporate +44 (0) 20
Duncan Vasey Finance Limited 7469 0932
Cornhill Capital +44 (0) 20
Nick Bealer Limited 7710 9610
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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