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Desert Mines and Metals Ltd Announces Acquisition Of Korean Resources Limited; Appointment Of Managing Director


Sunday, 2 Jun 2013 06:28pm EDT 

Desert Mines and Metals Ltd announced that the consideration shares for acquisition of 100% of the issued capital of Korean Resources Limited (KRL) have been allotted on May 31, 2013. KRL through its wholly owned subsidiary Suyeon Mining Company Limited has contractual rights to acquire the Daehwa molybdenum tungsten exploration project in South Korea. The share issue comprises 20,700,000 ordinary fully paid Desert shares comprising ~14.9% of the issued capital. Financial terms of the transaction were not disclosed. The Company also announced the appointment of Mr Chris Rashleigh as Managing Director of the Company effective from May 31, 2013. Dr Robert Taylor has retired from the Desert board effective May 31, 2013. 

Company Quote

0.012
0.0010 +9.09%
23 Jul 2014