Goldcrest Resources plc, the gold focused company with interests in projects located in Ghana, has said that the conditional sale and purchase agreement between Castle Minerals Limited (“Castle”) and Goldcrest for the acquisition of the Akoko prospecting licence has been automatically terminated.
A statement said as announced on 28 May 2015, the agreement dated 21 May 2015 was conditional on the shares of Goldcrest being admitted to trading on the AIM market of the London Stock Exchange within 12 months of the date of the agreement.
The Company and Castle are in discussions to consider revising terms for a possible new sale and purchase agreement.
Not too long ago, Goldcrest announced that its option agreement dated 16 January 2013 over the Fumbisi prospecting licence in Ghana had been terminated.
Niall Tomlinson, Executive Director said in a statement that: “The announcement of the termination of the Fumbisi agreement is in line with the Company’s focus that continues to prioritise the Akoko and Asheba projects which have near-term production prospects.”
“The Board made a strategic decision to direct funds towards these projects and we look forward to providing updates in due course,” Mr Tomlinson added.
Also on April 13, Goldcrest announced that its option agreement dated 15 January 2013 over the Zamsa exploration licence in Ghana had been terminated.