some activity?, page-6

Williams is big into Gold - formed MDL

Fountain Oaks have increased s/h to 2nd largest holder - Nicholas Limb (MDL Executive Chairman) Also top 20 holder MDL, TGZ, GOP, SRZ, FAR.

Some happenings in the Georgetown Qld neighborhood -

JKO Mining Pty Ltd, a company based in Hamilton Brisbane, appears to be the purchaser of DRA's Georgetown Gold Mine for AUD 16mil.


Deutsche Rohstoff AG: Sale agreement for Georgetown Gold Mine signed

By drag2010 On 17. September 2012

Sales price AUD 16 million (EUR 13 million) in cash

Heidelberg/Brisbane. Deutsche Rohstoff AG sold its Georgetown Gold Mine, located in North-Queensland, Australia, for AUD 16 million (EUR 13 million) in cash. The buyer is JKO Mining Pty Ltd, a company based in Hamilton Brisbane, Queensland, Australia. The purchase was effected through the acquisition of the shares of Deutsche Rohstoff Australia Pty Ltd (DRAU) who owns the Georgetown Gold Project. Completion of the transaction is subject to approval by the Australian “Foreign Investment Review Board (FIRB)”. The approval is expected to be granted within the next few days.

AUD 0.5 million (EUR 0.4 million) of the purchase price has already been paid in June and August in the form of an exclusivity premium. Another AUD 9.5 million (EUR 7.7 million) is immediately payable, the rest of AUD 6 million will be paid in four instalments over the next 12 months. That vendor loan bears interest at 7% and is secured by a mortgage over the tenements held by DRAU.

Titus Gebel, CEO of Deutsche Rohstoff AG, said: “We are very pleased that the sale of Georgetown Gold Mine is now signed. We wish the purchaser every success for the future. The area around Georgetown undoubtedly still has considerable potential for gold production. ”

DRAU, as a previously 100% owned subsidiary of Deutsche Rohstoff AG, is the legal entity which holds the mining and exploration licenses, which are important for the Georgetown Gold Mine. The gold processing plant in Georgetown, Queensland, also belongs to the company. DRAU acquired the Georgetown Gold Project in 2009 and commenced the mining of gold bearing ores in late 2010. In the course of 2011, the company produced in excess of 13,000 ounces of gold and 9,000 ounces of silver. The purchaser is obliged to rename the company after the acquisition.
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Wanfu Huang is a director of WXH Holdings (registered Indooroopilly QLD 4068), the new 4th largest shareholder in CUU. His profile is shown below.

MBR Ltd does not appear to be an Australian registered coy, although the initials are that of McKay Brook Resources (registered Indooroopilly QLD 4068), who are the purchasers of CUU’s bauxite tenements in Weipa, Qld, who also own a number of coal EPC’s

Wanfu Huang's Overview
Current
• CEO at MBR Ltd.
Past
• MD at MacMines Austasia
• Consultant at Anglo Coal
• Senior Project Geologist at BHP Minerals
Education
• James Cook University
• China University of Geosciences
Connections
105 connections
Wanfu Huang's Experience
CEO
MBR Ltd.
July 2007– Present (5 years 3 months)

MD
MacMines Austasia
July 2005– May 2008 (2 years 11 months)

Consultant
Anglo Coal
Public Company; 10,001+ employees; Mining & Metals industry
February 2002– April 2007 (5 years 3 months)Brisbane Area, Australia; Beijing, China

Senior Project Geologist
BHP Minerals
June 1996– May 1999 (3 years)Brisbane Area, Australia