Hunter Resources PLC Update on the Company's Pampamali joint venture (8641C)

TIDMHUN

RNS Number : 8641C

Hunter Resources PLC

30 June 2016

30 June 2016

Hunter Resources plc

("Hunter" or the "Company")

(AIM: HUN)

Update on the Company's Pampamali joint venture

Further to the Company's announcements of 25 February 2016, 2 March 2016 and 31 May 2016 (the "Announcements"), the board of directors of the Company (the "Board") is today providing an update on the Company's Pampamali joint venture.

While the Company continues its efforts to pursue the Arbitration, this is now most unlikely to be successfully concluded by 4 July 2016. As a result, the Board anticipates that its Ordinary Shares will be suspended with effect from 0730 on 5 July 2016.

If suspension occurs, trading in the Ordinary Shares will remain suspended until the Vendor transfers title of the tenements at Pampamali to HOLDCO and Gold Hunter SAC holds a 51% interest in HOLDCO (together the "Conditions") or another transaction is completed (which would require the Company to publish an admission document). In the event that neither of these are concluded within six months of suspension then the admission to trading on AIM of the Ordinary Shares will be cancelled.

(All definitions are as per the Announcements unless otherwise specified)

For further information, please contact:

 
Hunter Resources PLC       Allenby Capital Limited 
 Simon Hunt                 (Nominated Adviser and 
 (Chairman)                 Broker) 
 [phone]           John Depasquale/Nick Harriss/Nick 
 www.hunter-resources.com   Naylor 
 
                            [phone] 
 
                            www.allenbycapital.com 
-------------------------  ---------------------------------- 
 

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

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June 30, 2016 11:00 ET (15:00 GMT)