Lady Annie mine sale approved
May 30, 2010 - 2:59PM
Shareholders of Hong Kong-listed China Sci-Tech Holdings Ltd have approved a $135 million acquisition of the Lady Annie copper mine in Queensland from Cape Lambert Resources Ltd.
China Sci-Tech said in a statement that shareholders meeting on Friday had overwhelmingly approved the acquisition of the Lady Annie mine.
Cape Lambert said earlier in May that it intended to make a return of eight to 10 cents per share to shareholders, following receipt of the sale funds.
Cape Lambert also plans to use some of the funds received to ramp up its drilling program at the Marampa iron ore project, and to start drill assessment of the Pinnacle assets, both located in Sierra Leone, West Africa.
http://news.smh.com.au/breaking-news-business/lady-annie-mine-sale-approved-20100530-wn5p.html
lady annie sold !!!, page-23
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