Savannah Resources PLC has announced the extension of the due diligence period under its agreement to potentially divest its remaining interests in Mozambique.
The company, in a brief stock market statement, said that the due diligence phase would now run until 27 January 2023.
It previously announced the ‘Binding Heads of Agreement’ between its subsidiary AME EAST AFRICA LIMITED and MRG Metals Limited on 9 November 2022.
The deal sees MRG acquire Mining Concession 9735C in Mozambique.
Savannah noted that all other aspects of the proposed transaction remain unchanged and further updates regarding the transaction would be provided in due course.