Business
Vangold Resources Ltd Receives Update From IBC Advanced Alloys Corp.
Vangold Resources Ltd Receives Update From IBC Advanced Alloys Corp.
About this update from Ibc Advanced Alloys Corp.
[{"type":"text","content":"\nVangold Resources Ltd Receives Update From IBC Advanced Alloys Corp.\n\n\n May 6, 2009 (Filing Services Canada) -- Vangold Resources Ltd. (VAN - TSX Venture, VNGRF - OTCBB_Pink_Sheets), (\"Vangold\") reports that International Beryllium Corp. (\"IB\") issued the following press release and that this information is material and relevant to Vangold in view of its large equity in that company (Vangold currently owns 25.6 million shares of International Beryllium Corporation).KAZATOMPROM AND IBC ADVANCED ALLOYS SIGN MEMORANDUM OF UNDERSTANDING REGARDING STRATEGIC COOPERATIONIBC Advanced Alloys Corp. (TSX-V: IB) (\"IBC\") and Kazatomprom, the national atomic company of Kazakhstan, are pleased to announce they have signed a memorandum of understanding (\"MOU\") outlining a framework to develop a strategic relationship to capitalize on current and emerging opportunities in the global beryllium market. The MOU was signed after several days of meetings in Almaty, Kazakhstan between IBC, Kazatomprom and Ulba Metallurgical Plant (\"Ulba\"), the world's largest beryllium and master alloy processing facility and a wholly owned subsidiary of Kazatomprom.Under the terms of the MOU, Kazatomprom, Ulba and IBC have committed to developing a plan of strategic cooperation with regards to the global beryllium market and to explore mutually beneficial initiatives to foster market growth and technological development. In addition, Kazatomprom has provided IBC with beryllium and master alloy long-term supply assurances which will better allow IBC to develop and implement long term strategic growth initiatives. This MOU is an important step in developing a long-term strategic relationship between Kazatomprom, Ulba and IBC and is intended to improve manufacturing and marketing efficiencies while broadening the opportunities for beryllium metal, beryllium-based alloys and other related products. \"We are signing this MOU with IBC,\" stated Mr. Moukhtar Dzhakishev, president of Kazatomprom, \"given that IBC and its wholly owned subsidiary, Freedom Alloys, have a long customer history with both Kazatomprom and Ulba. We expect this MOU will allow us to take advantage of future opportunities in a mutually beneficial and cooperative way.\"\"Kazatomprom signed this MOU for mutual cooperation,\" said Yuri Shakhvorostov, deputy director general - beryllium faci...