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Fura Gems extends hard deadline for Queensland sapphire project acquisition

The agreement with Richland Resources to acquire the Capricorn sapphire project has been extended until November 30

FURA Gems - Fura Gems extends hard deadline for Queensland sapphire project acquisition
The Capricorn sapphire mining project is in Queensland, Australia

Fura Gems Inc (CVE:FURA) (OTCMKTS:FUGMF) has extended the longstop date of its option agreement with Richland Resources Ltd to the end of November as the parties complete the remaining legal formalities, it said Friday. 

The date was extended from November 15 to November 30, 2019. 

Toronto-based Fura’s option agreement with Richland concerns the acquisition of a new sapphire mining project in Queensland, Australia. 

READ: Fura Gems again extends hard deadline for Mozambique ruby acquisition

The acquisition of the Capricorn project gives Fura 100% interest in two mining permits (EPM 25973 and EPM 25978) and three mining licenses (ML 70419, ML 70447 and ML 70451) in the Australian state.

Fura is a gemstone mining and marketing company with emerald and ruby assets in Colombia and Mozambique, respectively.

The Capricorn deal was originally announced in June 2019.

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Price: 0.09 CAD

Market: TSX-V
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