Coal miner BlackgoldInternational Holdings Ltd. said March 31 that the to sell assets to MatexInternational Ltd. has lapsed.

Under the agreement originally reported in late 2014, Matex wasacquiring Blackgold's wholly owned subsidiary Blackgold Holdings HongKong Ltd. forS$25 million in cash and the remainder in shares.

It gave no reason other than that the parties did not extendthe long-stop date of March 31, 2016.