DGAP-News: Deutsche Rohstoff AG:Share Purchase Agreement for Wolfram Camp Mining Pty Ltd signed
(firmenpresse) - DGAP-News: Deutsche Rohstoff AG / Key word(s): Acquisition
Deutsche Rohstoff AG:Share Purchase Agreement for Wolfram Camp Mining
Pty Ltd signed
06.04.2011 / 08:12
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Deutsche Rohstoff AG: Share Purchase Agreement for Wolfram Camp Mining Pty
Ltd signed
Heidelberg. Deutsche Rohstoff AG is pleased to announce that it has entered
into a Share Purchase Agreement with Planet Metals Ltd
(www.planetmetals.com.au), Brisbane, Australia, to buy Planet Metals 100%
owned subsidiary, Wolfram Camp Mining Pty Ltd ('WCM') for a total purchase
price of AUD 7 million (apporox. 5 million Euro), comprising $3.5 million
cash and $3.5 million worth of Deutsche Rohstoff shares or cash. The
Agreement is subject to conditions including satisfactory due diligence by
Deutsche Rohstoff and all regulatory and shareholder approvals obtained.
WCM is the holding company which has an 85% stake in the Wolfram Camp
tungsten-molybdenum project, located west of Cairns, Queensland. The
project's assets comprise:
- 150,000tpa commercial scale processing plant - purpose built in 2008
and currently on care and maintenance
- Spares and equipment related to the plant and mine site
- Total resource estimate of 1.42Mt (at) 0.60% WO3 and 0.12% Mo within
granted mining leases (MLs 4935, 5117, 20486, 20534). This comprises
0.78Mt (at) 0.56% WO3 and 0.13% Mo in the Indicated Resource category and
0.64Mt (at) 0.65% WO3 and 0.11% Mo in the Inferred Resource category. The
most recent resource update (JORC-compliant) was prepared in July 2010.
- $817,627 (excl. gst) in financial assurance held as security by DEEDI
(Qld Mines Dept)
- Exploration permits (EPMs 8884, 16050, 16395 and EPMAs 18253, 18254,
19109)
- Farm-in agreement (earn up to 85%) on EPM 14028 (Bamford Hill)
- All documentation and intellectual property associated with, but not
limited to, resource estimates, mining studies and processing plant
commissioning.
Key terms relating to the purchase include:
- Non-refundable deposit of $200,000 paid by Deutsche Rohstoff at the
time of signing the Agreement.
- Deutsche Rohstoff has until 9 May 2011 to carry out its due diligence.
If Deutsche Rohstoff decides to complete the transaction, an amount of
$3,300,000 cash is required to be paid on 10 May 2011.
- The balance purchase price, being $3,500,000, will be issued in 180,500
Deutsche Rohstoff AG shares on 1 September 2011.
- Deutsche Rohstoff has an option to pay the balance purchase price in
cash if it notifies Planet of this intention before 31 July 2011.
- The deal is structured to also provide Planet with some downside
protection by means of a supplementary cash payment if Deutsche
Rohstoff's shares are more than 20% lower than the calculated price of
$ 3.500.000 as at 1 September 2011.
The Wolfram Camp Mining site is located 90 km west of Cairns and 300 km
North-East of Georgetown, where Deutsche Rohstoff Australia has commenced
Gold production in January 2011.
Heidelberg, 6 April 2011
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on gold, oil/gas and so called high
tech metals such as indium, gallium, rare earth metals, cobalt. All
projects are located in countries marked by political stability, the core
area being Germany. The business concept is based on redeveloping deposits
which have been well explored in the past. First Production started in
January 2011 in Georgetown/Australia. For more information please visit
www.rohstoff.de.
Contact:
Dr. Thomas Gutschlag
+49 6221 652 4730
gutschlag(at)rohstoff.de
End of Corporate News
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118575 06.04.2011
Datum: 06.04.2011 - 08:12 Uhr
Sprache: Deutsch
News-ID 33717
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Kategorie:
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