Mozambique signs MoUs with Zambia and Zimbabwe to strengthen regional energy cooperation
Fura Gems extends final deadline for acquisition of Mozambique ruby assets
12:45 CAT | 07 May 2019
Fura is involved in the exploration and mining of rubies in Mozambique through its 80% interest in four ruby licences (in file CoM)
Fura Gems Inc (CVE:FURA) announced news last Tuesday (April 30) that it has extended the final “drop-dead” date for the closing of its proposed acquisition of Mustang ruby assets in Mozambique from New Energy Minerals.
The Toronto company has given New Energy Minerals Ltd (formerly known as Mustang Resources Ltd) written notice to extend the deadline for satisfying the conditions for closing the deal on the assets to May 31 this year from April 30.
READ: Fura Gems in a strong position, says Hannam & Partners, which starts coverage
The deal with New Energy represents the purchase by Fura of interests in three ruby licenses in Mozambique. The transaction remains subject to the approval of the TSX Venture Exchange.
Fura is involved in the exploration and mining of rubies in Mozambique through its 80% interest in four ruby licences. It is also engaged in the exploration of resources in Colombia where it owns a 76% interest in the Coscuez Emerald Mine in Boyacá.
Fura shares were at C$0.26 on Tuesday.
Source: Proactive Investors
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