re: Ann: Agreement Executed for Transfer of 3...
"21 December 2009 The Companies Announcements Office ASX Limited Agreement Executed for the Transfer of 35% Interest in the Second Lao Tenement Yuqida Ord River Resources Limited (ASX: ORD) is pleased to announce that an agreement has been executed which requires Yuqida Mining Limited (Yuqida) to have a 35% of its 100% ownership in the holding company Hong Kong Yuqida S.A. Limited (Yuqida HK) transferred to Sino Australia Australian Resources (Laos) Company, Hong Kong Limited (SARCO HK) by 31 December 2009. Yuqida HK is the 100% owner of Yuqida Mining (Group) Co. Ltd (Yuqida Laos) which owns 100% of the tenement called Yuqida in Laos. SARCO HK is 49% owned by ORD and 51% owned by China Nonferrous Metal Industrys Foreign Engineering and Construction Co., Ltd (NFC). ORD and NFC have earned the 35% interest for having fulfilled their commitment by carrying out exploration and survey work in Laos on Yuqida tenement. SARCO, ORD and NFC will continue to have constructive discussions with Yuqida regarding the remaining 65%. Please refer to announcement Laos Mining Joint Venture Agreement Signed on 30 October 2009 for detailed information on SARCOs plan to build a world class alumina refinery in Laos and the 130million tones for bauxite resource from LSI and Yuqida. Yuqida tenement will play a critical role in supplying bauxite to the refinery. If you have any questions please contact Frank Zhu, Head of Corporate Development via [email protected]. Frank Zhu, CFA Head of Corporate Development Ord River Resources Limited Level 22, Goldfield House 1 Alfred St Sydney 2000 Ph: 61 2 9250 1848"
All good Rg DYOR
VAN Price at posting:
5.0¢ Sentiment: LT Buy Disclosure: Held
