Business
Fraser West - Completion of Disposal
Fraser West - Completion of Disposal.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 0199R Regency Mines PLC 21 October 2013 \n\nRegency Mines Plc\n(\"Regency\" or the \"Company\")\nFraser West Project - Completion of Disposal\n21 October 2013\nRegency Mines, the mining exploration and mineral investment company with interests in nickel and other minerals in Australia and Papua New Guinea announces an update on the sale of a majority interest in the Fraser West Project in Australia to Ram Resources Limited (ASX:RMR)(\"RAM\"), a company listed on the Australian Stock Exchange and previously referenced on 10 October 2013 and 26 July 2013. \n \nRAM has announced that it has completed its acquisition of an additional 70% interest in the Fraser West Project bringing its total to 80%. All securities approved at the recent General Meeting have now been issued, with the Company now increasing its equity position in RAM to 19.9%. Regency will now hold 59,938,434 shares of RAM post consolidation, and retain a 20% direct stake in the project. \n \nRegency Chairman Andrew Bell states: \"The delivery of the remaining RAM shares following the General Meeting completes the partial vend of our Fraser West project into ASX listed Ram Resources. RAM is now fully funded and poised to focus its efforts on the exploration of these exciting tenements. Regency meanwhile, retains a meaningful direct stake in the project, an indirect one via its holdings in RAM, as well as a royalty and performance shares. This structure allows Regency shareholders to participate in Fraser West's future upside at no additional cost to the Company, and demonstrates the execution of the Company's strategy to add shareholder value during challenging market conditions.\" \n \nEnquiries:\n\n\n\n\nAndrew Bell 020 7747 9960 or 07766 474849\n\n\nChairman Regency Mines plc\n\n\n\n\nSandra Spencer 020 7747 9960 or 07757 660 798\n\n\nInvestor Relations Regency Mines plc\n\n\n\n\nColin Aaronson/David Hignell 020 7383 5100 \n\n\nNOMAD Grant Thornton UK LLP\n\n\n\n\nNick Emerson 01483 413500\nGuy Wheatley 02073828416\nRupert Trefgarne 02031288817\n\n\nBroker SI Capital Ltd\nJoint Broker Beaufort Securities Ltd\nMedia Relations MHP Communications\n\n\n\n\n ...