A Deed of Variation has been executed, and as announced Emmerson will retain 100% ownership of the majority of the Tennant Creek tenements with Evolution taking ownership of those tenements associated with the Gecko-Goanna-Orlando copper-gold prospects.
As was noted, the restructure would require Emmerson shareholder approval if the ASX deemed that Listing Rule 10.1 applies.
The ASX has now confirmed that Listing Rule 10.1 applies to the restructure and accordingly Emmerson will now seek the shareholder approval necessary to proceed with the restructure. Preparation for this shareholder meeting is in progress and details will dispatched to shareholders as soon as possible. It is currently anticipated that the general meeting of Emmerson shareholders will be held in early May 2018.
Emmerson sees the restructure as a beneficial and logical outcome for both parties and looks forward to shareholder support and quickly finalising the restructure.
About Emmerson Resources Limited
Emmerson Resources Limited (ASX:ERM) (FRA:42E) is an ASX listed gold resource company that recently (July, 2014) secured a landmark Joint Venture agreement with Evolution Mining (ASX:EVN).
- Has an aggressive exploration program and dominant position in the world class Tennant Creek Mineral Field.
- Is applying new exploration concepts and technologies to unlock the next generation of gold and copper deposits.
- Owns the only carbon-in-pulp gold plant in the region.
- Has an experienced Board and Management team.
Mr. Rob Bills
Managing Director & Chief Executive Officer
Emmerson Resources Limited (ASX:ERM) Successful Restructure of the Tennant Creek Mineral Field Joint Venture
Emmerson Resources Limited (ASX:ERM) to Commence First Drill Program in Tennant Creek Following the Restructure with Evolution Mining (ASX:EVN)