JOHANNESBURG (miningweekly.com) – ASX- and JSE-listed Firestone Energy has entered into discussions with interested parties regarding future funding.
The company, which is currently the takeover target of fellow ASX-listed Range River Gold, indicated that it was currently in the early stages of formulating offers, which were expected to transpire over the next two weeks.
Firestone said it expected to make an announcement regarding the outcome of these negotiations before April 26.
The South African coal miner struggled in recent weeks to conclude an investment agreement with Ariona Company, which has now been bought out by Range River.
Firestone earlier this month announced that its restated investment agreement with Ariona, BBY Nominees and Jaguar Funds Management had been terminated after negotiations to resolve a revised date for second-stage completion under the terms of the agreement had failed.