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Firestone requests another trading halt

13th March 2013

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – JSE- and ASX-listed Firestone Energy on Wednesday, for the second time in less than a month, requested a trading halt of its securities pending the outcome of negotiations with Ariona Company.

In terms of an investment agreement entered into between the two companies last year, Ariona had intended on making a second tranche payment of A$12.5-million to Firestone on February 28.

This payment had, however, been delayed and Firestone advised its shareholders on Wednesday that it was negotiating with Ariona to set a new payment date.

Ariona had made a A$5-million cash payment to Firestone in a first tranche settlement at the start of February.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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