[ET Net News Agency, 4 January 2013] Bestway International (00718) said about 56
hectares of the mineral mining license currently held by the Group covering around 689
hectares located in Hovd Gol, Tsengel Soum, Bayan-Ulgii Aima, Mongolia was cancelled due
to the implementation of The Law of Mongolia on Prohibiting Mineral Exploration and Mining
in the Area of the River and Water Stream Origin and Basins and in the areas of the
Forests.
The area represents about 8% of the total areas covered by the license. Following the
cancellation, the area covered by the license was revised to about 633 hectares. As such
cancelled areas do not cover any resources, Bestway is of the view that the cancellation
will not significantly affect the volume of resources covered by the license.
Trading in the shares of Bestway will remain suspended until further notice. (HL)
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00718 TAI UNITED HOLD
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0.017 -0.003 (-15.000%) Others
04/01/2013 11:02
Bestway (00718) says 56 ha Mongolia mining license cancelled
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