Sirius Exploration isn’t going ahead with the acquisition of Njahili Resources because it can’t raise the cash.
Njahili has an iron ore project in Sierra Leone. Sirius thought that the minimum placing required had been secured. It turns out that it wasn’t and Sirius was unable to find additional investors to fund the acquisition.
Sirius will be raising additional cash in order to develop its existing interests in Macedonia.
The shares remain suspended at 6.375p. Interim figures for the six months to September 2007 should be published by 7 April, which will enable the suspension to be lifted.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.