Afferro Mining has confirmed the expiration of a period of exclusivity into which it had entered with a potential offeror, although said discussions are still continuing.
The company is now able to begin formal discussion with other parties that have shown an interest in making an offer.
"Whilst the company has received approaches from a number of interested parties, there can be no certainty that a formal offer will be forthcoming," the group said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It added: "Shareholders are not presently advised or required to take any action."
The share price fell 2.51% to 97.25p by 10:14 on Monday.
NR
-
‘I installed a heat pump in my home – here are five things I’ve learnt’From the size and noise of a heat pump to how much it costs to run one, Ruth Emery reveals what she’s learnt after installing one in her home six months ago
-
'Nationalisation is not the answer'Opinion Labour's enthusiasm for nationalising steel was met with approval across the spectrum. Political consensus is a sign that thinking has been abandoned, says Max King
