Announcement still is positive.
"Minor amendments"
Still has $2.5m cash.
Agreement to acquire Golden Horde Limited (GOH) for 79 million Elixir shares remains current subject to award of a Production Sharing Contract (PSC) in Mongolia
Elixir and GOH management travelled to Mongolia in mid-May visiting the PSC area and attending various meetings to assess the progress of the approval process
Administrative queries on Elixir’s technical and financial capabilities addressed and minor amendments to the commercial terms of the PSC agreed
Naadam festival holiday period in Mongolia has further stalled the government approval process
Elixir and GOH recently commenced negotiations on a re-structure of the proposed acquisition of GOH by Elixir given longer than expected delays in the PSC approval
Additional new venture opportunities outside Mongolia being progressed by Elixir
Continued stringent management of expenditures with cash of approximately $2.5 million and no debt as at 30 June 2018
EXR Price at posting:
6.0¢ Sentiment: Hold Disclosure: Held
