Power Metal Resources PLC (AIM:POW, OTCQB:POWMD) said the deadline date for agreement over the conditional disposal of its 49.9% interest in New Ballarat Gold Corporation has been extended slightly.
New Ballarat Gold, a joint venture with Red Rock Resources, owns Red Rock Australasia that has exploration interests in the Victoria Goldfields and South Australia.
In a statement, Power Metal said; "As announced on 13th March 2024, 'Completion must occur within 13 weeks of 8 March 2024, being the date of the heads of terms, or the agreement will be terminated'".
The long stop date for the conclusion of the disposal has been extended by one day until Tuesday [11 June 2024] due to a public holiday.