Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Caerus Mineral Resources PLC - copper miner in Cyprus - Updates on developments in its Cypriot portfolio, specifically New Cyprus Copper PA Ltd. NCC owns a 90% interest in Treasure Development Ltd in Cyprus, with BMG Resources Ltd holding the remaining 10%. According to BMG, NCC has defaulted on a A$2 million payment. The two parties dispute a matter relating to an amendment to the original share purchase agreement between BMG, NCC and TDL, which had been agreed back in 2016.
‘BMG has invoked the dispute resolution process with NCC under the original SPA, and Caerus will monitor this and continue to provide updates to its shareholders on this matter as and when materially necessary,’ the firm says.
Current stock price: 5.50 pence, down 8.3% on Tuesday
12-month change: down 80%
Copyright 2022 Alliance News Limited. All Rights Reserved.