Key Developments: Aspire Mining Ltd (ASPXF.PK)
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24 Apr 2013
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Latest Key Developments (Source: Significant Developments)
Noble Group Ltd Increases Shareholding In Aspire Mining Ltd
Noble Group Ltd announced that on February 21 ,2013 the Company has increased its shareholding in Aspire Mining Ltd (Aspire), a company listed on Australian Securities Exchange (ASX), from 10.1% to 14.9% by acquiring by way of a private placement 35,000,000 new shares (Aspire Shares) in the capital of Aspire.The aggregate value of the consideration is AUD2.8 million (Consideration), representing a discount of approximately 26.1% to the weighted average price of the shares of Aspire on the ASX on February 20,2013 (being the last market day on which the shares of Aspire were traded on the ASX preceding the date of the acquisition) (the Aspire Weighted Average Share Price). The Consideration was arrived at on a willing buyer willing seller basis taking into account, inter alia, prevailing market conditions. The Consideration was satisfied in cash and funded from internal resources. Full Article
Aspire Mining Ltd Issues New Ordinary Shares
Aspire Mining Ltd announced the issuance of 35,000,000 new ordinary shares at AUD 0.08 per share to raise funds for general working capital. Full Article
Aspire Mining Ltd Not To Pay FY 2012 Dividend
Aspire Mining Ltd announced that no dividends have been paid or declared since the start of the financial year and the directors do not recommend the payment of a dividend in respect of the financial year ended June 30, 2012. Full Article
Aspire Mining Ltd Announces Grant Of Mining License For Ovoot Coking Coal Project
Aspire Mining Ltd announced that it has received from the Mongolian Resource Authority (MRAM) Mining License number MV 017098 covering a total area of 5,758 hectares for the Ovoot Coking Coal Project (Ovoot Project). Under existing Mongolian Minerals Law, the Mining License has a tenure of 30 years from date of grant with an option to extend for two additional 20 year periods. Full Article
Aspire Mining Limited Signs Memorandum Of Understanding With JSC Russian Railways
Aspire Mining Limited announced that it has signed a non-binding Memorandum of Understanding (MOU) with the Mongolian subsidiary of rail giant JSC Russian Railways (RZD or Russian Railways) to discuss extending the Trans-Mongolian Railway across northern Mongolia, including to Aspire’s Ovoot Coking Coal Project (Ovoot). The MOU with Infrastructure Development LLC (ID) would explore the development of a strategic partnership between ID and Aspire infrastructure subsidiary, Northern Railways LLC (Northern Railways), to build, own and operate an extension of the existing Trans-Mongolian Railway at Erdenet through to Ovoot via the town of Moron. Full Article
Aspire Mining Limited And Noble Group Limited Agree Marketing And Logistics Alliance
Aspire Mining Limited announced that it has entered into a strategic marketing and logistics Alliance Agreement (Agreement) with a wholly owned subsidiary of Noble Group Limited to assist with the development of Aspire's Ovoot Coking Coal Project in Mongolia (Ovoot). Under the Agreement, Noble will market at least 50% of the first five million tonnes of saleable coking coal produced from Ovoot and will manage the logistics chains between Erdenet and end customers in respect of these sales. Noble will be entitled to purchase up to 33% of its marketing allocation as principal. In return, Aspire will pay a marketing fee and separate logistics management fees to Noble on normal commercial terms. The Agreement between Aspire and Noble focuses on: Investigating supply chain logistics to transport coking coal from Ovoot to customers in China, north Asia and other seaborne coking coal markets which can be accessed via far eastern Russian and Chinese export ports; The establishment of the 'Ovoot' coking coal brand in the global marketplace, and identifying opportunities to develop value added products; Reviewing opportunities for value added products and processes in relation to Ovoot; and Identifying strategic partners to: assist with logistics support including access to rail and port facilities, and assist with funding for the development of the Ovoot Coking Coal Project including the construction of the rail link from Ovoot to Erdenet. Full Article
Aspire Mining Limited Not To Pay FY 2011 Dividend
Aspire Mining Limited announced that no dividends have been paid or declared since the start of fiscal 2011 and the directors do not recommend the payment of a dividend in respect of the year ended June 30, 2011. Full Article
Aspire Mining Limited Raises AUD 32.8 Million Through Institutional Placement
Aspire Mining Limited announced that it has raised AUD 32.8 million via a placement (the Placement) to further progress its Ovoot Coking Coal Project (Ovoot) in northern Mongolia. The Placement consisted of 80 million new fully paid ordinary shares at AUD 0.41 per share to institutional and sophisticated investors. The funds raised from the Placement will be used for: further exploration of the Ovoot Basin within the next 12 months; infill drilling to increase the Resource and establish a Mongolian Registered Reserve; completion of a pre-feasibility study and feasibility study regarding the Ovoot Project; application for a Mongolian Mining License over the Ovoot Resource; completion of a Rail pre-feasibility study in relation to the rail link to Erdenet; application for a rail license for the Ovoot to Erdenet rail link, and administration and working capital. Full Article
Aspire Mining Limited Announces Project Exploration Update
Aspire Mining Limited announced that it has identified a new coal seam formation, located around four kilometers from the resource area at the Company’s Ovoot Coking Coal Project (“Ovoot”) in Northern Mongolia. Four drilling rigs are currently underway to determine the resource potential of the area. The Company has completed 5,000 metres of exploration drilling as part of its 2011 program, in addition to infill, geotechnical and hydrological drilling. A further 5,000 metres of exploration drilling is expected by the end of calendar year 2011. Full Article
Aspire Mining Limited Issues Ordinary Shares
Aspire Mining Limited announced the issuance of 123,073 ordinary shares at AUD 0.4961. The shares are issued to SouthGobi Resources Limited pursuant to the top-up provisions of the Placement Agreement between Aspire Mining Limited and SouthGobi Resources Limited. Full Article
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