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KNL 15.5¢

Ministerial Approval of sale of tanzanite business

  1. Tangible

    837 Posts.

    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12242421.html

    "The Sale therefore now only remains conditional on approval by the South Africa Reserve Bank (if required) ("SARB Approval") and Richland and Sky are now in the process of seeking the necessary approvals from and notifications to SARB in accordance with the Exchange Control regulations of South Africa"

    Well that was very quick, that process could have easily dragged as we have come to expect from the Tanzanian government.

    I can see now why Sky Associates only wanted a 3 month extension... expect the Merelani JV to be signed off on within the 3 months if not much sooner.

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