In its interim results statement, Curzon said progressing Coos Bay materially had proven to be difficult in light of recent US natural gas markets and logistical restrictions associated with the COVID-19 pandemic.
The company, meanwhile, said it still intends to complete due diligence for a potential transaction to acquire SSSIG but these efforts have been stymied by the pandemic.
“Due diligence efforts on the potential transaction with SSSIG have taken longer than expected to date, in part due to COVID-19 related delays and disruptions, however, all parties continue to work together constructively to provide the detail and data required to fully assess the opportunity presented,” said chairman John McGoldrick.
The pre-revenue company reported a US$367,000 loss for the period with expenditure used to maintain the commercial potential of its Coos Bay CBM project as well as corporate listing overheads in London. It had US$146,549 of net cash at the end of June.