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Dromana Estate Turns Attention To Non-Resource Sectors

Dromana Estate (ASX: DMY) is assessing a number of non-resource opportunities after settling a claim from the Longonjo Project vendors.

It noted that it had settled the claim, which it received from Australian Angolan Resources on 9 September for a sum considerably less than was originally claimed.

Dromana has effective from 14 November 2013 concluded its association with the Longonjo project in Angola and has executed a Deed of Settlement and Release with the vendors of Longonjo.

The company had at the beginning of the month confirmed it had been unable to negotiate to have the option over the copper, gold and rare earths project either extended or rolled over.

"We are currently assessing a number of Nonā€Resource opportunities, in the interim your board will ensure minimal expenditure and a continuation of our tight control over costs," chairman Gabriel Chiappini said.

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