Black Mountain Resources Ltd has finally admitted that RFC Ambrian has resigned as nominated adviser – two days after the shares were suspended because Black Mountain did not have a nominated adviser.
An announcement to the ASX says that Black Mountain is seeking a replacement and expects trading in the shares to be suspended for up to 2 weeks.
The share price was suspended at 1p, which values Black Mountain at £1.2m. There is a lack of cash in the balance sheet and the company requires additional investment.
AIM Journal March 2015 available.
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