Amur Minerals Corporation (AIM:AMC, OTC:AMMCF) said discussions about an all-share offer for the business from Ascent Resources PLC (AIM:AST) have come to an end without agreement.
The indicative Ascent bid valued Amur at around 0.175p a share.
Amur became a cash shell on 6 March and to avoid its shares being suspended on AIM has until 6 September to complete a reverse takeover or else become an investing company.
If suspended for six months, the AIM listing will be cancelled.