Rose Petroleum PLC Update on SDA Mill disposal (1512V)
October 31 2017 - 10:52AM
UK Regulatory
TIDMROSE
RNS Number : 1512V
Rose Petroleum PLC
31 October 2017
31 October 2017
Rose Petroleum plc
("Rose", the "Company" or the "Group")
Update on SDA Mill disposal
Further to its announcement on 11 September 2017, Rose (AIM:
ROSE), the AIM quoted natural resources business, is pleased to
provide an update on the process to dispose of the Company's
mineral processing mill operation in San Dieguito de Arriba, Mexico
and its associated assets, licenses and agreements (together, the
"SDA Mill") to Magellan Gold Corporation (OTCQB: MAGE)
("Magellan").
The disposal process is now in its final stages and the Board
has no reason to believe that that the transaction will not be
completed in the coming weeks. The key steps in the disposal
process have been completed and the Company is now focused on
closing out the final administrative procedures necessary to
facilitate the disposal.
The Company is working with Magellan to ensure that completion
of the disposal can take place as quickly as possible after the
final matters have been completed.
The Company will make further announcements on the disposal
process as necessary and when it has completed.
Enquiries:
Rose Petroleum Tel: +44 (0)
plc 20 7225 4595
Matthew Idiens (CEO) Tel: +44 (0)
Chris Eadie (CFO) 20 7225 4599
---------------------- ---------------- ---------------
Jeremy Porter / James Allenby Capital Tel: +44 (0)
Reeve / Liz Kirchner Limited 20 3328 5656
Andy Thacker Turner Pope Tel: +44 (0)20
Investments 3621 4120
This information is provided by RNS
The company news service from the London Stock Exchange
END
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