Richland Resources Ltd (LON:RLD) shares were lifted on Wednesday after it extended its £400,000 and US$150,000 secured convertible loan facility to 31 May 2019.
READ: Richland in advanced discussions regarding sale of Capricorn Sapphire
The gemstone developer also provided a strategic update for its Capricorn sapphire mine in Queensland, Australia, saying that it was currently in discussions, with one party in particular, regarding a potential sale of the entire site.
However, the group said there could be no guarantee that it would be able to either secure the requisite funding to be able to re-commence operations or conclude discussions with regard to the potential disposal of the Capricorn mine.
In early trading, Richland’s shares were 7.2% higher at 0.094p.