Blenheim Natural Resources PLC Extension of Option to Invest in Lithium Project (9746X)
28 February 2017 - 3:22AM
UK Regulatory
TIDMBNR
RNS Number : 9746X
Blenheim Natural Resources PLC
27 February 2017
27 February 2017
Blenheim Natural Resources Plc
("Blenheim" or the "Company")
Extension of Option to Invest in Lithium Project in Mali
Blenheim announces that its option to acquire a 30 per cent
interest in the Dieba exploration permit in Southern Mali ("Dieba")
has been extended until 31 March 2017.
Blenheim's Chairman Chris Ells commented, "Xantus Inc ("Xantus")
has agreed to extend Blenheim's option to acquire a 30 per cent
interest in the Dieba exploration permit so that we can consider
how Blenheim can further collaborate and work with Xantus to
broaden the Company's investments in assets with lithium potential.
We are also working to identify and appraise other lithium
opportunities and we continue to evaluate potential strategic
investments in good projects and assets in the wider natural
resources and agribusiness sectors, in line with our investment
strategy."
Background to the option agreement with Xantus
Xantus holds interests in four licences in Mali, including
Dieba, and four in Niger, all with geology conducive to lithium
deposits. The Dieba exploration permit is located about 150km south
of the Malian capital, Bamako. Dieba is adjacent to Birimian
Limited's Bougouni Lithium Project and Xantus and Blenheim believe
that Dieba may host similar lithium-rich pegmatites. The option
agreement with Xantus gives Blenheim the right to acquire a 30 per
cent interest in Dieba from Xantus for a consideration of
GBP175,000 in cash, (which will be used by Xantus to fund
exploration at Dieba) and 60,000,000 ordinary shares of 0.1 pence
each in the capital of the Company. Blenheim paid GBP25,000 to
secure this option. The original expiry date of the option was 28
February 2017, but Xantus has now agreed to extend the option until
31 March 2017.
Ends
For further information please contact:
Blenheim Natural Resources +44 (0) 1622
Chris Ells Plc 844601
Colin Aaronson/Jamie
Barklem/ Daniel Grant Thornton UK +44 (0) 20
Bush LLP 7383 5100
+44 (0) 1483
Nick Emerson SI Capital Ltd 413500
Lucy Williams Peterhouse Corporate +44 (0) 20
/ Duncan Vasey Finance Limited 7469 0932
+44 (0) 20
Colin Rowbury Cornhill Capital Limited 7710 9610
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 27, 2017 11:22 ET (16:22 GMT)
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