Business
Elemental Minerals review of operations for the quarter ended 31 March 2013
PERTH, Australia, April 30, 2013 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) ("Ele...
About this update from Element Lifestyle Retirement Inc.
[{"type":"text","content":"\n\n\n\n\n\n\n\n\nPERTH, Australia, April 30, 2013 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) (\"Elemental\" or \"the Company\") is pleased to provide the\n following quarterly update for activities at its Sintoukola Potash\n Project located in the Republic of Congo (\"ROC\").\n\n\nActivities\n\n\nCompletion of Phase 3A drilling programme to extend sylvinite in\n northwest part of Kola\n\n\nAcquisition of a very large dataset for historic exploration and potash\n mining within the ROC\n\n\nRegulator review of the Congolese Compliant Social and Environmental\n Impact Study (SEIA) submitted in the last quarter\n\n\nLand rezoning and compensation process underway\n\n\nContinued modularisation studies with AMEC in preparation of the start\n of the Feasibility studies\n\n\nPost-quarter Activities\n\n\nContinued land acquisition process\n\n\nEngagement with regulators in support of the Congolese Environmental and\n Social Impact Study (ESIA)\n\n\nPreparation of submission of the International (ESIA)\n\n\nCorporate Activities\n\n\nPost quarter end, on 11 April 2013 Elemental announced that it has\n received an indicative, non-binding, incomplete and conditional\n proposal which, if it were to proceed to a formal offer, could result\n in an offer being made to acquire all of the outstanding shares in\n Elemental for a cash price of A$0.66 per share (the \"Proposal\").\n\n\nThe Proposal has been made by Dingyi Group Investment Limited\n (\"Dingyi\"), a company incorporated in Bermuda and listed on the Hong\n Kong Stock Exchange. Dingyi is an investment company with interests\n based primarily in Hong Kong and Mainland China. Receipt of the\n Proposal is a result of the process initiated by the Board of Elemental\n in June 2012 to explore strategic alternatives for the Company.\n\n\nThe Board intends to continue to progress negotiations with Dingyi\n during the exclusivity period to a point where it is able to assess\n whether a suitable binding agreement can be considered and if thought\n appropriate put to shareholders. If such an outcome can be achieved,\n the Board will provide a formal recommendation to shareholders as to\n the merits of the Proposal at that time.\n\n\nGeology and Mineral Resources\n\n\nThe Phase 3A drilling was completed during the quarter, comprising two\n boreholes totalling 551.48 metres, to extend sylvinite...