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00661 CDAYENONFER
RTNominal down0.082 -0.002 (-2.381%)
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07/01/2013 11:18

Daye Non-Fer (00661) unit satisfies Mongolian arbitral award

[ET Net News Agency, 7 January 2013] China Daye Non-Ferrous Metals Mining (00661) said
its subsidiary agreed to transfer its 55% equity interest in Reservoir Moly to Nomin
Deposit LLC (the Mongolian JV partner) in order to satisfy the arbitral award that the
mining right to the Aleinuer Mine had to be returned to the Mongolian JV partner.
China Daye Non-Ferrous said the transfer of mining rights has been prohibited under
Mongolian laws. Since the key asset held by Reservoir Moly is the mining right to the
Aleinuer Mine, China Daye Non-Ferrous' Mongolian legal counsel is of the opinion that the
requirements of the arbitral award can only be satisfied through the transfer. (HL)

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