 |
Melbourne, Dec 23, 2011 (ABN Newswire) - Celamin Holdings NL (
ASX:CNL) wishes to advise of an updated schedule for the completion of the acquisition of the remaining 90% of Celamin Limited (which holds the North African phosphate & base metals assets) by the company (the acquisition).
The updated schedule reflects the request from the independent valuer for additional information to be incorporated into the valuation. This information includes historic and recent data. This information is being supplied and will be incorporated into the reports.
As a result of this additional work the indicative timetable is as follows:
Indicative Timetable
Dispatch of Notice of Meeting: 1 March 2012
Shares suspended from Trading: 29 March 2012
Shareholder Meeting: 29 March 2012
Issue of Prospectus: 12 April 2012
Close Prospectus: 30 April 2012
Issue Shares under Prospectus: 2 May 2012
Despatch Date: 2 May 2012
Completion of Acquisition: 2 May 2012
ASX Trading Resumes: 9 May 2012
Further information in relation to the project acquisition will be provided to shareholders in the notice of meeting and explanatory statement to be sent to shareholders.
In the interim, Celamin Limited will continue with the assessment of the two flagship phosphate projects Chaketma and Bir El Afou. By the second calendar half of next year, Celamin Limited plans to begin a bankable feasibility study (BFS) on the project that indicates the greatest overall potential.
ASX:CNL) wishes to advise of an updated schedule for the completion of the acquisition of the remaining 90% of Celamin Limited (which holds the North African phosphate & base metals assets) by the company (the acquisition).The updated schedule reflects the request from the independent valuer for additional information to be incorporated into the valuation. This information includes historic and recent data. This information is being supplied and will be incorporated into the reports.
As a result of this additional work the indicative timetable is as follows:
Indicative Timetable
Dispatch of Notice of Meeting: 1 March 2012
Shares suspended from Trading: 29 March 2012
Shareholder Meeting: 29 March 2012
Issue of Prospectus: 12 April 2012
Close Prospectus: 30 April 2012
Issue Shares under Prospectus: 2 May 2012
Despatch Date: 2 May 2012
Completion of Acquisition: 2 May 2012
ASX Trading Resumes: 9 May 2012
Further information in relation to the project acquisition will be provided to shareholders in the notice of meeting and explanatory statement to be sent to shareholders.
In the interim, Celamin Limited will continue with the assessment of the two flagship phosphate projects Chaketma and Bir El Afou. By the second calendar half of next year, Celamin Limited plans to begin a bankable feasibility study (BFS) on the project that indicates the greatest overall potential.
| Tweet |
About Celamin Holdings NL
Celamin Holdings NL (ASX:CNL) is an ASX listed company focused on the exploration and development of resource projects in North Africa initially in Tunisia and Algeria.
Through Celamin Ltd (Celamin), the Company's immediate focus is the Bir El Afou Phosphate project held in partnership with local company Tunisian Mining Services SA (TMS). A pre feasibility study targeted on a high grade, low cost Stage 1 mine development is expected to be completed by end September 2011. The Company has currently targeted first mine production by the end of 2013.
Celamin also holds another Phosphate exploration permit in Tunisia with TMS (Chaketma). This project has larger target potential than Bir El Afou. The Company1s development plan is for a sequential staged development depending on market conditions once Bir El Afou Stage 1 is in production.
Celamin has also acquired rights to several base metal tailings Projects in Tunisia with TMS and is farming in to an Exploration Permit with base metal (Pb/Zn) targets.
|
||
|
 |
Related Companies |
>>> Celamin Holdings NL |
| |
Related Industry Topics: |
Metals | Financial General | Materials General | Mining | Zinc | |
| |
This Page Viewed: (Last 7 Days: 130) (Last 30 Days: 600) (Since Published: 6550) |
Events & Exhibitions
|
Site Search
| ENGLISH All Languages |
Upcoming WebCasts
 | Mr Mark Paton CEO Cue Energy Resources Tuesday, June 12, 2012 |
 | Mr Alan Hopkins CEO Pan Asia Corporation Tuesday, June 12, 2012 |
 | Mr Barry Dawes Martin Place Securities Tuesday, June 12, 2012 |
 | Dr Andrea Grant CEO Living Cell Technologies Monday, July 02, 2012 |
Companies in the News
Mobile Video TV
|
||
|
||
){kind=link}