Australasian and RDI progress towards mergerFriday , 31 Oct...

Australasian and RDI progress towards merger
Friday , 31 Oct 2008

Australian iron ore company Australasian Resources Ltd ("Australasian") (ASX: ARH) wishes to advise that discussions and activities with Resource Development International Ltd ("RDI") regarding a merger of the two companies (ASX announcement 6 August 2008) are continuing in a positive and proactive manner.

Australasian understands that RDI is currently advancing its application for a listing on the Hong Kong Stock Exchange ("HKSE") and to this end is finalising all relevant legal and regulatory documentation, including the preparation of a Prospectus.

Upon completion of the Prospectus, Australasian and its advisors will receive all necessary information to enable a finalisation of a Scheme Booklet for lodgement with ASIC and the Court. The Scheme Booklet will be distributed to Shareholders following Court approval and will include information regarding a shareholder meeting.

Further information and timing regarding the merger will be advised when additional information is received from RDI.