Shares in Forte Energy (LON:FTE, ASX:FTE) have been suspended in Australia pending an announcement Wednesday (October 15) to update on financing arrangements, it said.
At the beginning of this month, the firm revealed it had completed the acquisition of a half share in two Slovakian projects owned currently by European Uranium.
Forte paid C$500,000 cash for the 50% stakes in Ludovika Energy and Ludovika Mining, the EUU subsidiaries that hold the mineral licences for the Kuriskova and Novoveska Huta uranium projects.
Forte Energy has to spend a minimum C$350,000 a year on the properties over the next ten years to retain its interest.