MMG Limited (MMG) advises it has agreed with Dundas Mining to a further extension to the deadline to make the completion payment for the purchase of the Avebury nickel mine to 7 July 2017, in exchange for an additional A$2.5M non-refundable deposit.
Dundas Mining informed MMG earlier today that it was unable to provide the balance of the funds (A$23.5 million) to complete the deal by the agreed date of 9 June 2017.
MMG has the right to terminate the deal if final payment is not received by 7 July 2017.
Both parties remain committed to completing the deal.
All further enquiries with respect to the transaction should be directed to Dundas Mining.
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