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Perth, Mar 22, 2011 (ABN Newswire) - Aspire Mining Limited (
ASX:AKM) (PINK:ASPXF) has been notified that commodity trading house Noble Group (SIN:N21) (PINK:NOBGF) has agreed to acquire a further 18 million shares in Aspire from Mongolian shareholders representing the vendors of Aspire's Ovoot Coking Coal Project.
The share sale represents 3.36% of the current issued capital of the Company, which will give Noble an 8.6% undiluted interest in the Company.
Aspire welcomes the continued interest and investment in the Company by Noble.
The block of 18 million shares subject to sale by the Mongolian vendors to Noble represents just 10% of the vendors' holdings. Aspire looks forward to continuing its good relationship with the vendors.
Aspire has received confirmation from the Mongolian vendors that they do not intend to sell additional shares at this time.
ASX:AKM) (PINK:ASPXF) has been notified that commodity trading house Noble Group (SIN:N21) (PINK:NOBGF) has agreed to acquire a further 18 million shares in Aspire from Mongolian shareholders representing the vendors of Aspire's Ovoot Coking Coal Project.The share sale represents 3.36% of the current issued capital of the Company, which will give Noble an 8.6% undiluted interest in the Company.
Aspire welcomes the continued interest and investment in the Company by Noble.
The block of 18 million shares subject to sale by the Mongolian vendors to Noble represents just 10% of the vendors' holdings. Aspire looks forward to continuing its good relationship with the vendors.
Aspire has received confirmation from the Mongolian vendors that they do not intend to sell additional shares at this time.
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About Aspire Mining Limited
Aspire Mining Limited (ASX:AKM) owns 100% of the Ovoot Coking Coal Project in northern Mongolia which, in 2010, announced a maiden 330 million tonne resource (93.3mt Measured, 182.4mt Indicated, and 55.0mt Inferred). Aspire is currently targeting resource upgrades at Ovoot, as well as progressing development of key infrastructure including access to rail.
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>>>          Aspire Mining Limited>>> Noble Group Limited |
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