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| Emerging Nickel Producer | | | | Effective November 3, 2008 operations at the Ban Phuc Nickel Project will be suspended, and placed on a care and maintenance basis. All expenditures will be reduced to preserve corporate functionality and existence until mid-2009 without additional cash infusion other than a substantial VAT refund. During this period AMR will revise the Ban Phuc Project model to reflect a later start-up date and other considerations regarding cna certification. In addition the Company will continue with discussions with the Vietnamese government regarding a number of issues and with potential providers of the finance required for Project completion and other activities.
"While we are disappointed not to be in a position to proceed with Ban Phuc Project development and other activities as originally planned, we are in the fortunate position of having sufficient cash resources to implement the new strategy. We have been impacted adversely by factors affecting mineral project development worldwide and also by issues specific to Vietnam that require resolution if we are to achieve our original objectives. We and our Vietnamese joint venture partner, Coxama, will be meeting shortly to discuss the implementation of the new strategy as it relates to the Ban Phuc Project." We use free web hosting servers |
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Jan 07, 2010 - Asian Mineral Resources: Completion Of Private Placement
Asian Mineral Resources announced today the completion of a non-brokered private placement of 59,000,000 units each consisting of one common share and one whole warrant to purchase a common share at $0.15 for 12 months from its issue date... The units were issued at $0.10 a unit for gross proceeds of Cdn$5,900,000. Full exercise of the warrants would produce an additional $8.9 million of equity funding... read more...
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Jan 05, 2010 - Asian Mineral Resources: Shareholder Approval For Private Placement
Asian Mineral Resources announced today that shareholders entitled to vote have approved by the required majority (a) a one time waiver of the Company’s Shareholders Rights Plan and (b) the creation of a new “control person”, ... It is therefore anticipated that completion of the placement for gross proceeds of Cdn$5,990,220 will take place on January 7... read more...
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