StockMarketWire.com - Strategic Minerals said the acquisition of the Leigh Creek copper mine in Australia had been delayed by a combination of the December holiday period and the need to satisfy a number of deal conditions.
It was anticipated that binding contracts would be exchanged in the coming weeks and settlement would occur once all conditions precedents were met, the company said.
"We have no concerns about completing the transaction but want to ensure that all procedures are completed properly to reduce risk to the company," chief executive John Peters said.
At 2:21pm: [LON:SML] Strategic Minerals PLC share price was -0.23p at 2.13p
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.