Alliance Discussions on possible business combination
(firmenpresse) - London 19 May 2010: Ascot Mining Plc (“Ascot” or the “Company”) (Plus Markets ASMP & Xetra® AM3.DE) announces that the Company and Mineral Hill Industries Ltd. (“MHI”), a Canadian company listed on the Toronto Stock Exchange (TSX.v) under the symbol MHI, have agreed to provide each other access to information on their respective properties and affairs and to engage in discussions to determine whether there is a mutually beneficial basis for pursuing a business combination.
Mineral Hill Industries Ltd. is developing lithium carbonate exploration projects in Canada (Quebec) and the United States (Nevada). With successful exploration these hard rock lithium deposits could provide a source of battery-grade lithium carbonate, now used as the next generation power source of lithium-ion battery powered electric and hybrid vehicles. As well as pursuing new acquisitions of brine lithium projects, MHI is identifying and exploring natural resource projects within the Rare Earth and strategic metal resource segment. MHI intends to continue developing and completing the NI 43-101 report on its 100% owned Praxis Goldfields Property located in British Columbia.
Ascot is already mining ore and has commenced initial production of gold. The Company has gold mines and a milling operation in Costa Rica. Ore mill feed has been secured by acquiring and rehabilitating formerly producing concessions as well as contracting for additional ore supplies. The Company is intensifying its efforts to maximize its existing projects within Costa Rica and is aggressively pursuing opportunities in other jurisdictions where it is in acquisition negotiations.
David Jackson, the CEO of Ascot Mining, says ”The Company welcomes these discussions with Mineral Hill as they demonstrate Ascot’s stated strategy of pursuing opportunities to broaden its property portfolio with quality projects and to benefit from additional experienced management.”
The Directors take responsibility for this announcement.
Enquiries:
Damien Daly + 44 (0) 7880 55 46 47
Email: info(at)ascotmining.com
Website: www.ascotmining.com
Mineral Hill:
Telephone: +1 604 685 4170
Website: www.mineralhill.com
Leseranfragen:
Ascot Mining
" alt="Sona Releases Blackdome-Elizabeth Preliminary Economic AssessmentDatum: 19.05.2010 - 10:21 Uhr
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