ASX-listed junior company Gibb River Diamonds, (formerly Phosphate Australia Ltd., or POZ) West Perth, Western Australia, said on July 15 that private junior company Canadian company ILS Resources Inc. (formerly P205 Resources) did not exercise its option by the midnight deadline of July 12 to acquire Gibb’s Highland Plains Phosphate Project in Australia’s Northern Territory (GM June 21, p. 27; Dec. 14, 2018).
Gibb said it continues to work with several interested parties concerning the purchase of Highland Plains, and will advise the market of further developments.