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Aragon gets cold feet over Hot Chili acquisition

Aragon gets cold feet over Hot Chili acquisition

Mining company Aragon Resources (AAG) has called off its proposed acquisition of unlisted explorer Hot Chili, after the parties were unable to agree on terms.

Aragon said that it was unable to satisfy itself as to the surety of pending agreements within the overall deal.

With Aragon not wanting to get burned, the companies mutually agreed to walk away.

Aragon said it was debt free, and would continue to evaluate project acquisition opportunities going ahead.

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Tags miningAragon ResourcesMergers and acquisitions

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