Suche
 
Folgen Sie uns auf:

Bauxite Resources Ltd. Final Agreements Signed with Yankuang for Sale of Joint Venture Interest and Buy-Back of Shares

01.12.2015  |  ABN Newswire
Perth, Australia (ABN Newswire) - Bauxite Resources Ltd. ('BRL') (ASX:BAU) advises the final agreements were signed today with Yankuang Resources Pty Ltd (Yankuang) and Yankuang Group Company Ltd ('YGL') for the sale of Bauxite's interest in the Bauxite Alumina Joint Venture, and the Buy-back of Yankuang's shares.

The transaction is conditional on BRL Shareholder approval and State-Owned Assets Supervision and Administration Commission of the Peoples Republic of China ("SASAC") approvals.

BRL will plan to hold an Extraordinary General Meeting to seek shareholders approval of the transaction on Monday 18th January 2016, and it is expected completion will occur shortly after this date once final approvals are received.

KEY TERMS OF THE TRANSACTION

- The joint ventures with Yankuang will be terminated;

- Yankuang will pay BRL the sum of A$7.15 million for its interests in the assets of the joint ventures, including its shareholding in Bauxite Alumina Joint Ventures Pty Ltd ('BAJV'), and for its interests in the Fortuna bauxite rights;

- BRL will buy back Yankuang's 19,700,000 shares in BRL for the sum of $1.15 million;

- Yankuang and BAJV will pay BRL a royalty of 0.9% of the FOB price for the first 100 million tonnes of bauxite mined from the Fortuna and Felicitas tenements;

- BRL will transfer to Yankuang all its interest in the tenements that relate to the joint ventures;

- Subject to the agreement of the tenement holder, BRL will assign its rights in the Fortuna bauxite resource to Yankuang and in the event that the Fortuna tenement holder does not agree, then the royalty right referred to above will be reduced to the first 87 million tonnes; and

- Yankuang's nominee director will resign from the Board of BRL.


About Bauxite Resources Limited:

Bauxite Resources (ASX:BAU) (OTCMKTS:BXRDF) was established with a substantial tenement holding in Western Australia to develop new bauxite supply for the global alumina/aluminium industry. The Company listed on the Australian Securities Exchange (ASX) in October 2007.

The Darling Range in the south-west of Western Australia (WA) is the world's largest bauxite mining and alumina refining region producing around 20% of the world's alumina. This area has mined bauxite and refined alumina since the 1960s. These industries are leaders in sustainable resource development and represent the fifth largest sector of WA's resource industry



Contact:

Bauxite Resources Ltd.
Sam Middlemas, CEO
T: +61 8 9200 8200 M: +61 419 936 040

Bauxite Resources Ltd.
T: +61 8 9200 8200
E: info@bauxiteresources.com.au
www.bauxiteresources.com.au
Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Australian Silica Quartz Group Ltd.
Bergbau
A2PV0S
AU0000066169
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"