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Fura Gems again extends deadline for Mozambique ruby asset merger

It has informed New Energy Minerals that the 'drop-dead' date of the merger will be pushed back again to December 31

FURA Gems -
Fura boasts emerald and ruby assets in Colombia and Mozambique

Fura Gems Inc. (CVE:FURA) (OTCMKTS:FUGMF), the gemstone mining and marketing company, has once again extended the deadline for the purchase of a trio of ruby assets in Mozambique. 

The Toronto-based company has again given written notice to New Energy Minerals Ltd (previously known as Mustang Resources), which owns the ruby licenses, that will push back the so-called ‘drop dead' date of the Merger of Ruby Assets Agreement from November 30 to December 31 of this year. 

READ: Fura Gems forging ahead with plans to become ground-breaking mining and marketing group

Separately, Fura has also again extended the longstop date of its option agreement with Richland Resources Ltd to December 7 from November 30 to complete legal formalities.

This option agreement gives Fura 100% interest in a pair of permits (EPM 25973 and EPM 25978) and three licenses (ML 70419, ML 70447 and ML 70451) for a sapphire mining project in Queensland, Australia.

Fura boasts emerald and ruby assets in Colombia and Mozambique.

Quick facts: FURA Gems

Price: 0.12 CAD

Market: TSX-V
Market Cap: $29.19 m

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on 19/2/20

2 min read