an agreement with Hero Wisdom Limited to acquire 10% equity interest in Venture Max
Limited at HK$100 million.
The unaudited total asset value and unaudited net liabilities of Venture Max as at 15
June 2011 amounted to about US$65,000 and US$35,000.
Venture Max indirectly owns Mongolian Copper Mining LLC (MCM), which holds the Minerals
Exploration Special Licence covering an aggregate area of 610.55 hectares. MCM will seek
to obtain the licence permitting the conducting of mining activities in relation to the
mining area located in the place named Bor Khag of Nogoonnuur soum in Bayan-Ulgii Aimag,
Mongolia, with a term of not less than 30 years covering an area of not less than 600
hectares of the mining area.
The total estimated resources at the mine based on the The Russian Reserves & Resources
Reporting System is about 41.81 million tonnes of ore and the current combined estimated
resources is equivalent to total copper metal resources of 464,625 tonnes. (HL)
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01166 SOLARTECH-NEW
Nominal 
0.000 (0.000%) Others
06/07/2011 09:31
Solartech (01166) buys 10% stake in Mongolia mine at HK$100m
| Remark: | Real time quote last updated: 25/04/2024 14:24 |
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