StockMarketWire.com - Mining group Savannah Resources said it had agreed to sell its copper projects in Oman to Sydney-listed Force Commodities.
Savannah said it would received 50m Force shares at 1c each, plus preferential payment of $3.5m of an existing loan from cash flow from production.
Savannah would also get a 1.0% net smelter royalty on future metal sales.
Settlement of the transaction was subject to certain conditions being achieved or waived, and was expected to be completed in October.
At 9:02am: [LON:SAV] Savannah Resources share price was 0p at 2.1p
Story provided by StockMarketWire.com
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