finally----the project is under way

After a tortuous 18months or so of funding "exploration" in such a tough market, the Directors have secured the project funding !! Hooray!!! Well done.

We have anxiously looked forward to this day.

This now facilitates the path to production and an excellent reward for shareholders.




23 December 2013
The Manager
Company Announcements Office
Australian Securities Exchange
Exchange Centre
4th Floor, 20 Bridge Street
Sydney NSW 2000
Dear Sir/Madam,
CONSTRUCTION TENDER AWARDED, FUNDING SECURED
MBA DELTA IRONSANDS PROJECT – FIJI
The Board of Directors of Amex Resources Limited (AXZ) is pleased to announce that the Company has signed a lump sum procurement, construction and management contract (Contract) for development of its 100% owned Mba Delta Ironsands Project in Fiji.
Works are to commence early in 2014 and include purchase of an owner–operated mining and transport fleet as well as construction of wharf and shiploading infrastructure at Amex’s Lautoka port site.
Additional funding has also been secured to ensure the Contract is fully funded, as follows:
i) A short term loan facility of US$25m signed late on Friday 20th of December 2013 which will be utilised to complete advance payment on the Contract; and
ii) An Agreement for the balance of the Contract funding of US$80m was signed on Saturday 21st December 2013 with a major Chinese State Owned Entity ranked in the Forbes 500 Largest Global Corporations list.
Yours faithfully,
Matthew Collard
Managing Director