(MENAFN- ProactiveInvestors - Australia) Argosy Minerals (ASX: AGY) has relinquished its option to acquire two coal projects in KwaZulu Natal,
South Africa.
The company had at the beginning of this month entered into an agreement to acquire 100% of two graphite projects - which have visible coarse, flaky graphite on surface â€" in Namibia.
These projects include 95,000 hectares of highly prospective exploration ground and are located to road, rail, electricity and water infrastructure.
In addition, the port of Walvis Bay is around 200 kilometres away.
Argosy had originally entered into an agreement to acquire a 70% stake in two coal projects in KwaZulu Natal in November 2012.
These projects cover an area of 3185 hectares in a well-known coal field.
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