Another version? http://www.miningbusiness.net/content/prospect-resources-sinomine-funding-deadline-extended
HARARE, Feb 12
Prospect Resources will pursue discussions with other investors, financiers, commodity traders and offtake partners while giving Chinese geo-tech services company Sinomine more time to complete its proposed $A10M placement and offtake for its Arcadia lithium project in Zimbabwe..
Sinomine, an associate of China NonFerrous Metal Mining, now has until March 31 to complete its conditional agreement.
Prospect says Sinomine requested more time to discuss terms of a definitive build-transfer contract and facility agreement as well as its potential acquisition of 51% of the Australian-based company or 100% of the project.
It notes the placement is part of a broader project financing and construction proposal.
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