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Cove Resources Ltd Not to Complete Acquisition of Kalvinit from Endomines publ AB


Monday, 18 Nov 2013 02:45am EST 

Endomines publ AB announced that Cove Resources Ltd will not complete the acquisition of Kalvinit. The Share Purchase Agreement between Cove Resources Ltd (Cove) and Endomines AB (Endomines) considering the purchase of Kalvinit Oy (Kalvinit) has been terminated. During the agreement period, from July 2012, Cove has undertaken Feasibility Studies toward development which have been provided to Endomines under the terms of the agreement. Endomines will immediately start the search for a new partner in order to continue developing the project. Kalvinit will continue to develop the deposit and is proceeding with the mining concession application in cooperation with local landowners. The Kalvinit titanium project is a ilmenite resource and mining project located within the European Union. Once developed Kalvinit would be positioned as a supplier of titanium pigment feedstock into European markets. The official Stock Exchange Release is given in Swedish and there may be slight differences in the translated versions. 

Company Quote

0.0040
-0.0010 -20.00%
19 Jul 2013