Highlights:
- Period of exclusivity for the due diligence to be completed on the potential
acquisition of a 75% interest in the Russian Gold Company, Omchak, has been
extended by a further one month.
Australian resources company Meridian Minerals Limited (“Meridian” or “Company”) (ASX: MII) announced on 18 February 2011 that it had entered into a non-binding Heads of Agreement (“HoA”) to acquire a 75% interest in the non-alluvial assets of Russian gold company ZAO ZRK Omchak (“Omchak”) from UK listed Petropavlovsk PLC (‘Petropavlovsk’). Meridian and Petropavlovsk have now agreed to extend the exclusivity period from 11 July 2011 until 11 August 2011.
This one month extension, which follows on from a previously announced extension, has been necessary to allow Meridian to complete its due diligence on Omchak and its assets.
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