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.
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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.
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