(MENAFN- ProactiveInvestors - Australia) Great Western Exploration (ASX:GTE) may elect not to proceed to part acquire the the Spasskaya Copper Project in Kazakhstan.
A company related to the Republic of Kazakhstan Sovereign Fund was to complete regulatory and shareholder approvals, including completing a sub-soil rights contract.
GTE said in a statement it may withdraw from the JV with no ongoing obligations.
In light of this uncertainty, work on the project has been suspended. Although the company said it "remains confident that this issue will be resolved..."
By the 7th December, the outcome of various protocols will be known the company said.
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