Oct 9 (Reuters) - Pelican Resources Ltd PEL.AX :
* Update sale of SNPDC
* Says sale of Sibuyan Nickel Properties Development Corporation
* Says second cash payment of $940,000 representing twenty percent (20%) of the purchase price has been received from Dynamo
* Says commenced preparing a formal sale and purchase agreement and a royalty agreement
* Says Dynamo Atlantic Limited has provided formal notice that due diligence investigations on SNPDC have been completed
* Further commence preparing notice of meeting materials seeking shareholder approval for the sale of its interests in SNPD
* Source text for Eikon ID:nASX3jXwrj