| Elemental Minerals provides shareholding update | |
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PERTH, Australia , April 1, 2014 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) ('Elemental' or 'the Company') is pleased to announce
that one of the company's founding shareholders, Harlequin, has reached
agreement with Pala Investments ('Pala') to acquire Pala's entire
shareholding of 12.4% in Elemental.
Pricing is at a premium to the 5-day VWAP.
Harlequin will own approximately 19% of the Company.
Michael Barton , Pala's nominated director, has resigned from the board,
effective immediately. Elemental would like to thank Michael and Pala
for their counsel and support during the development of the company.
Commenting on the update, Elemental's CEO, Iain Macpherson stated: "I'm
delighted that Harlequin was able to come to a successful agreement
with Pala on acquiring this stake. As a founder, Harlequin has always
been supportive of the Company's development of its outstanding
Sintoukola potash project and I know that Elemental will continue to
enjoy Harlequin's support. Elemental is in the process of finalising a
new strategy for the development of not only the Kola project, but also
the opportunities afforded by the broader Sintoukola licence and to
enable delivery of value to all stakeholders. I'm excited by this
significant development and look forward to updating the market in due
course."
About Elemental Minerals
Elemental Minerals Limited (ASX/TSX: ELM) is an advanced mineral
exploration and development company whose primary asset is the
93%-owned Sintoukola Potash Project in the Republic of Congo . ELM
completed an advanced Pre-Feasibility Study on its Kola Project in
September 2012 and was awarded a mining license and an environmental
license in August 2013 . The Sintoukola project has the potential to be
among the world's lowest-cost potash producers and its strategic
location near the coast of Central Africa offers a transport cost
advantage to key Brazilian and Asian fertilizer markets. ELM has also
identified a number of other targets on its license area which covers
over 1400kmwith a significant amount of historical data available. For more
information, visit www.elementalminerals.com
SOURCE Elemental Minerals Limited
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Elemental Minerals Limited
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CODE : ELM.AX |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Elemental Min. est une société d’exploration minière d'or basée en Australie. Elemental Min. est cotée en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 121,6 millions AU$ (109,6 millions €). La valeur de son action a atteint son plus haut niveau récent le 08 avril 2011 à 2,99 AU$, et son plus bas niveau récent le 28 août 2015 à 0,12 AU$. Elemental Min. possède 760 299 968 actions en circulation. |