Chaarat Gold Holdings Ltd (AIM:CGH) said it continues to be made towards completion of the potential equity investment of US$250mln from Xiwang International, though the final sign-off will be delayed.
In June, the companies agreed a collaboration that would see Xiwang take an approximate 60% stake in Chaarat at a price of £0.20 per share.
Some conditions of that deal are unlikely to be met by the 30 July 2023 cut-off date, said Chaarat, and discussions are underway over a new final closing date.
The PIA and strategic cooperation agreement are still both conditional, it added.