AVM advance metals limited

another concern for bt, page-3

  1. 23 Posts.
    todays news release

    News Release
    FOR IMMEDIATE RELEASE TSX, ASX: AVM
    June 16, 2005 Common shares outstanding: 29 million
    PERTH – Anvil Mining Limited (TSX, ASX: AVM) has been advised that a company operating
    in the Congo Copperbelt, Chemaf sprl has initiated proceedings in the Tribunal de Grande Instance
    de Lubumbashi (Court) against Société Minière Kolwezi sprl (SMK), Emiko sprl and Anvil Mining
    Congo SARL. The proceedings allege that Chemaf sprl had acquired 55% of the shares in SMK
    pursuant to a sales contract entered into in 2003 with Emiko.
    In December 2004, Anvil Mining Limited purchased an 87.5% interest in Emiko which in turn
    owns an 80% interest in SMK, with Gécamines holding the remaining 20%. This is referred to as
    the Mutoshi Joint Venture. The purchase of these interests was concluded during the second half of
    2004 with all the necessary approvals being obtained from Gécamines, SMK, Emiko and the
    Minister of Mines.
    Anvil believes that the claim is without foundation and it will be defended vigourously. The matter
    is expected to be concluded in the Lubumbashi Court within a short period of time, following
    written submissions from all parties mentioned in the action. Gécamines has also been requested to
    make a submission to the Court.


    For additional information, please contact:
    Bill Turner
    President & CEO
    Tel: +61-8-9481 4700 or Mobile: +61-41-1188018
    Email: [email protected] (Perth) Company Web site: www.anvil.com.au
    Craig Munro
    Vice President Corporate & Finance
    Tel: +61-8-9481 4700 or Mobile: +61-41-7963206
    Email: [email protected] (Perth



    Additional Notes:
    Caution Regarding Forward Looking Statements: Statements regarding the Company’s plans with respect to future mining

    activities in the DRC and
    to the expansion of the Dikulushi operation are forward-looking statements. There can be no assurance that Anvil’s

    future plans will materialize or
    that future required regulatory approvals will be obtained. There can be no assurance as to the exact result of the

    recent expansion of the Dikulushi
    operation.

 
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