African Energy Resources (ASX: AFR) is preparing to make an announcement on the execution of a joint development agreement, with the ASX granting the company a trading halt - with its shares placed in pre-open.
Earlier in the month African Energy and its IPP development partner submitted an Expression of Interest for a 300MW power station and associated coal mine at Sese in Botswana.
Key terms incorporate:
- Development partner to provide all equity required for the 300MW project, and will become the lead developer and operator of the power project; and
- The financial returns to AFR at financial close and throughout the life of the project.
The halt will last until the opening of trade on Thursday 24th October 2013, or earlier if an announcement is made to the market.
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