noble got out Sydney - Tuesday - September 6: (RWE Australian...

noble got out Sydney - Tuesday - September 6: (RWE Australian Business News) -
Consolidated Minerals Ltd (ASX code: CSM) today announced its major
shareholder, Noble Resources Ltd, had decided to sell half of its 12.4
per cent shareholding in ConsMin.
Managing director Mr Michael Kiernan said Noble's decision to
exit its holding directly reflected ConsMin's success and its strong
growth to date on the back of its core steel and stainless steel related
minerals businesses.
"Noble has been a supportive, long-term shareholder since
Consolidated's recapitalisation in the late 1990s and they have made a
decision to realise the profit on their initial investment," Mr Kiernan
said.
"That is an investment decision which every shareholder is
entitled to make, and which we cannot control.
"However, I would stress that the sales agency agreements and
trading relationships we have with Noble as our principal sales agent
into China are for life-of-mine and Noble's decision to sell its shares
has absolutely no operational impact on Consolidated," he said.
"From a marketing perspective, we will continue to have a very
strong ongoing relationship with Noble, and we look forward to
continuing to enjoy the benefits of being a key supplier of
steel-related raw materials to the rapidly growing Chinese economy."
Mr Kiernan said the sale of Noble's shares would create
additional liquidity in the market for ConsMin shares, providing an
opportunity for new institutional and retail shareholders to join the
share register.
Shares in Consolidated Minerals traded steady at $4 today.
ENDS