Update on SDA Mill disposal

RNS Number : 1512V

Rose Petroleum PLC

31 October 2017

 

31 October 2017

Rose Petroleum plc

("Rose", the "Company" or the "Group")

Update on SDA Mill disposal

Further to its announcement on 11 September 2017, Rose (AIM: ROSE), the AIM quoted natural resources business, is pleased to provide an update on the process to dispose of the Company's mineral processing mill operation in San Dieguito de Arriba, Mexico and its associated assets, licenses and agreements (together, the "SDA Mill") to Magellan Gold Corporation (OTCQB: MAGE) ("Magellan").

The disposal process is now in its final stages and the Board has no reason to believe that that the transaction will not be completed in the coming weeks. The key steps in the disposal process have been completed and the Company is now focused on closing out the final administrative procedures necessary to facilitate the disposal.

The Company is working with Magellan to ensure that completion of the disposal can take place as quickly as possible after the final matters have been completed.

The Company will make further announcements on the disposal process as necessary and when it has completed.

Enquiries:

Matthew Idiens (CEO) Chris Eadie (CFO)	Rose Petroleum plc	Tel: [phone] Tel: [phone]
Jeremy Porter / James Reeve / Liz Kirchner	Allenby Capital Limited	Tel: [phone]
Andy Thacker	Turner Pope Investments	Tel:  [phone]

 

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