Avebury nickel mine extension

09 Jun 2017 01:30 PMMedia Release

  • Media Enquiries
    • Edward (Ted) Woodruff
      Group Manager Corporate Affairs
      T +61 3 9284 4256
      M +61 407 434 329

MMG Limited (MMG) advises it has agreed with Dundas Mining to a further extension to the deadline to make the completion payment for the purchase of the Avebury nickel mine to 7 July 2017, in exchange for an additional A$2.5M non-refundable deposit.

Dundas Mining informed MMG earlier today that it was unable to provide the balance of the funds (A$23.5 million) to complete the deal by the agreed date of 9 June 2017.

MMG has the right to terminate the deal if final payment is not received by 7 July 2017.

Both parties remain committed to completing the deal.

All further enquiries with respect to the transaction should be directed to Dundas Mining.

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