Stellar Diamonds plc, announced yesterday that it has secured an agreement from Octea Mining for  a two-week extension  to the longstop date for the fulfillment of the conditions to finalise the Tribute Mining and Revenue Agreements in relation to the Tongo-Tonguma mine development project in Sierra Leone, announced in April this year. The Company added: “This longstop date may be extended by a further two weeks subject to agreement from Octea.”

In the same announcement, Stellar also said that  the Company has got a further 45-day extension to the longstop dates with the noteholders (Noteholders) of its two outstanding Convertible Loan Notes (CLNs), also described in various announcements made earlier.

“As a result of these extensions, the longstop dates by which the Transaction must complete are extended to 15 September 2017 for the purposes of the $1.24m CLN and to 15 August 2017 for the purposes of the $1.65m CLN,” Stellar stated. “Should the amended longstop dates fall during the notice period for a General Meeting called for the purpose of obtaining shareholder approval for any aspect of the Transaction the noteholders also agree to extend the longstops to the date one week following the conclusion of the General Meeting.”

Stellar stressed that apart from the points raised in this announcement, all other terms of the Tribute Mining Agreements and CLNs remain in force.