CRP
21/07/2015 10:44
GENERAL
PRICE SENSITIVE
REL: 1044 HRS Chatham Rock Phosphate Limited
GENERAL: CRP: Antipodes Transaction Update
21 July 2015
NZX Market Announcement
Attached is a market announcement from Aorere Resources Limited concerning
the likely termination of its agreement for sale and purchase with Antipodes
Gold Limited.
As noted in the announcement Chatham Rock Phosphate and Antipodes Gold are in
direct discussions with a view to still pursuing the proposed reverse
takeover of Chatham Rock Phosphate.
The outcome of these discussions will be advised to the market in due course.
Chris Castle
Chief Executive Officer
[email protected]
Aorere Resources Limited Announcement:
21 July 2015
NZX Market Announcement
Antipodes Gold Transaction
Aorere Resources (AOR) announced to the market on 2 April 2015 a conditional
agreement (Agreement) to acquire certain gold joint venture interests from
Antipodes Gold Limited (Antipodes).
Included in the Agreement conditions was Antipodes obtaining counterparty
consents to the proposed transaction. Critically this included working
through a pre-emptive rights process with the joint venture partner - Newmont
Mining Corporation (Newmont). Newmont has now advised Antipodes that it
intends to exercise its pre-emptive rights and acquire the Antipodes joint
venture interests.
Accordingly it is likely this condition in the Agreement will not be
satisfied and that the Agreement is now at an end.
A further condition of the Agreement was for Antipodes to make a full
takeover offer for Chatham Rock Phosphate Limited (CRP). AOR holds a
significant investment in CRP. The purpose of the takeover was for CRP to
assume Antipodes' listings on the Toronto Venture Exchange and the NZX
Alternative Market to facilitate its phosphate investment diversification
strategy.
Pleasingly the intention to undertake this takeover remains and the CRP and
Antipodes Boards are now in discussions directly to progress this transaction
further. The AOR board supports such a transaction in principal believing it
will give CRP a stronger platform for re-building value.
Dene Biddlecombe
Chairman
Email: [email protected]
End CA:00267211 For:CRP Type:GENERAL Time:2015-07-21 10:44:13
