SEMAFO Heads of Agreement Expires
SEMAFO Inc. (TSX:SMF) announced that its heads of agreement with Middle Island Resources Limited (ASX: MDI) for the sale of a 100 percent interest in African GeoMin Mining Development Corporation Limited (“AGMDC”) has expired.
SEMAFO Inc. (TSX:SMF) announced that its heads of agreement with Middle Island Resources Limited (ASX: MDI) for the sale of a 100 percent interest in African GeoMin Mining Development Corporation Limited (“AGMDC”) has expired.
As quoted in the press release:
Closing of the transaction was subject to the fulfillment of several conditions prior to September 30, 2013. A number of said conditions were not fulfilled, including those pertaining to approvals and consents from the Government of Niger. As announced on August 26, 2013, the Samira Hill mine has been placed in care and maintenance.