Blenheim Natural Resources PLC Lapse of TAM Mining Limited option (3390N)

TIDMBNR

RNS Number : 3390N

Blenheim Natural Resources PLC

08 August 2017

8 August 2017

BLENHEIM NATURAL RESOURCES PLC

("Blenheim" or the "Company")

Lapse of option to acquire an equity interest in TAM Mining Limited

Blenheim advises that its option to subscribe for 7.5% of the share capital of TAM Mining Limited ("TAM"), announced on 8 August 2016, has lapsed.

The Company held an option, exercisable by Blenheim within a period of 6 months of (i) TAM obtaining an NI 43-101 compliant resource statement; or (ii) within 12 months of the date of the agreement, whichever was sooner, to acquire, subject to certain conditions, 7.5% of the fully diluted issued share capital of TAM, by assisting TAM to raise a minimum of US$5 million. The conditions have not all been satisfied in full and the option has therefore lapsed.

Blenheim's Chairman, Chris Ells, commented: "We are disappointed that the conditions to exercise the option were not fully satisfied within the option period. We continue to believe that the West Lumba project is highly promising and we will consider other ways to invest, whilst also reviewing other investment opportunities."

Ends

For further information please contact:

 
                       Blenheim Natural       +44 (0) 1622 
Chris Ells              Resources Plc          844601 
 
Colin Aaronson/Jamie 
 Barklem/ Daniel       Grant Thornton UK      +44 (0) 20 
 Bush                   LLP                    7383 5100 
 
                                              +44 (0)1483 
Nick Emerson           SI Capital Ltd          413500 
Lucy Williams /        Peterhouse Corporate   +44 (0) 20 
 Duncan Vasey           Finance Limited        7469 0932 
                       Cornhill Capital       +44 (0) 20 
Nick Bealer             Limited                7710 9610 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This information is provided by RNS

The company news service from the London Stock Exchange

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August 08, 2017 02:00 ET (06:00 GMT)