Firestone suspends share trading
PERTH (miningweekly.com) – Dual-listed Firestone Energy on Friday suspended share trading, after it failed to conclude negotiations with Ariona Company regarding a A$12.5-million investment into Firestone.
Firestone had previously halted share trading after the payment had been delayed, with the coal developer instituting negotiations with Ariona regarding a new payment date.
Firestone told shareholders that its shares would remain in suspension until it was ready to make an announcement on the outcome of discussions on the revised date for the investment agreement.
Ariona made an initial A$5-million cash payment to Firestone in February this year.
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