Gold Fields Update>
Gold Fields Update
(Thomson Reuters ONE) - Glencar Mining plc ("Glencar" or the "Company") Gold Fields Negotiations 7 July 2009Glencar announces that negotiations with Gold Fields Limited inrelation to the proposed joint venture on Glencar's Komana Project inMali have been terminated without agreement. The outline terms wereset out in the Non Binding Letter of Intent ("LOI") published on 25thMarch 2009. Since signing the LOI, the Board of Glencar has beenendeavouring to achieve a set of terms that it would have been in aposition to recommend to its shareholders. Unfortunately, agreementcould not be reached on certain material items in the terms andconsequently discussions have terminated.Glencar will now continue its appraisal of other options, includingindependent financing and possible mergers with other companies withcomplementary assets. A statement on progress in these matters willbe made in due course.For further information, please contact:Glencar Mining plcHugh McCullough, Managing DirectorTel: +353 1 661 9974e-mail: info(at)glencarmining.ieDavy Corporate FinanceIvan Murphy, DirectorBrian Corr, Associate DirectorTel: +353 1 679 6363Bishopsgate CommunicationsNick Rome/Michael KinironsTel: +44 20 7562 3350e-mail: nick(at)bishopsgatecommunications.com---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 07.07.2009 - 12:15 Uhr
Sprache: Deutsch
News-ID 3311
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