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Blenheim Natural Res (TSI)

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Tuesday 08 August, 2017

Blenheim Natural Res

Lapse of TAM Mining Limited option

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:

 

Chris Ells

Blenheim Natural Resources Plc

+44 (0) 1622 844601

 

 

 

Colin Aaronson/Jamie Barklem/ Daniel Bush

Grant Thornton UK LLP

+44 (0) 20 7383 5100

 

 

 

Nick Emerson

SI Capital Ltd

+44 (0)1483 413500

Lucy Williams / Duncan Vasey

Peterhouse Corporate Finance Limited

+44 (0) 20 7469 0932

Nick Bealer

Cornhill Capital Limited

+44 (0) 20 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
 
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