Dublin-listed exploration company Navan Mining said it has issued new shares to a third party that is conducting due diligence on Navan's Spanish operations.
These operations have been the subject of suspension of payments protection since December last year. The due diligence process may lead to the sale of the Spanish activities, Navan said.
The third party has agreed to fund some care and maintenance expenses incurred at the Spanish operations while it conducts due diligence.
Navan said it issued 654,835 new shares at 15 pence each to the third party. AFP