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Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED


Press Release
– SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining Limited (“Aspire”) (ASX: AKM) announced on October 26, 2010. Pursuant to the private placement, SouthGobi has acquired 105,860,186  common shares of Aspire at a price of A$0.19 per share, for an aggregate purchase price of approximately A$ 20.1 million.

After giving effect to the transaction, SouthGobi holds approximately 19.9% of Aspire. SouthGobi will have the right to nominate one director to the Board of Aspire and the right to maintain its proportionate shareholding in Aspire for a period of two years.

The closing price of Aspire on the ASX on December 23 was A$0.485.

Aspire is a ASX listed coal exploration company focused on advancing the Ovoot Coking Coal Project in Mongolia along with the Nurant and Shanagan Coal Projects.

For more details about SouthGobi Resources, please click here.



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Friday, 07 January 11
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LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...


Friday, 07 January 11
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Thursday, 06 January 11
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Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...


Thursday, 06 January 11
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Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...


Thursday, 06 January 11
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