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Global Alumina provides further update on Guinea Alumina project
Edited by : AL CIRCLE
1 min read
Global Alumina Corporation announced today a further update on its efforts to raise capital in order to, among other things, complete the previously-announced proposed acquisition from The Broken Hill Proprietary Company Pty Limited of its one-third interest in the Guinea Alumina joint venture project.
Under the sale and purchase agreement, completion of the acquisition was first scheduled to occur by March 20, 2013 assuming satisfaction of all conditions precedent by that date. These conditions precedent have not yet been satisfied. The Company is in advanced negotiations with several prospective investors to raise additional capital, and BHP has not taken action to terminate the SPA.
There can be no assurance that the Company's efforts to raise capital or complete a strategic alternative will be successful.
Under the sale and purchase agreement, completion of the acquisition was first scheduled to occur by March 20, 2013 assuming satisfaction of all conditions precedent by that date. These conditions precedent have not yet been satisfied. The Company is in advanced negotiations with several prospective investors to raise additional capital, and BHP has not taken action to terminate the SPA.
There can be no assurance that the Company's efforts to raise capital or complete a strategic alternative will be successful.
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