Hunter Resources shares suspended on AIM

Hunter Resources shares were suspended on AIM on Tuesday after failing to reach agreement through arbitration on its Pampamali joint venture in Peru.

The company said the shares will remain suspended until the it can acquire a 51% stake in the project, or “another transaction is completed - which would then require it to publish an admission document.

“In the event that neither of these are concluded within six months of suspension then the admission to trading on AIM of the ordinary shares will be cancelled,” Hunter said.

“The board is disappointed that, despite the extensive negotiations with the vendor which are continuing, it has not yet been possible to reach a mutually acceptable agreement, notwithstanding the company's best efforts. The company believes that the vendor has been unreasonably delaying the transfer of the tenements at Pampamali to HOLDCO for its own benefit. “