Asian Mineral Resources Limited
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The application for a mining license for the project for which all required supporting documentation, including a feasibility study, are in hand is now being submitted.
Asian Mineral Resources Limited - ASN Toronto ON CAN
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Datamonitor - Asian Mineral Resources Ltd. - Company Research, Analysis Reports, News, Profile
Asian Mineral Resources is engaged in the exploration and development of mineral property interests.
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News from Zibb.com
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Asian Mineral Resources Limited-Typhoon 'Hagupit' Impact on the Ban Phuc Project - Zibb.com
TORONTO, ONTARIO, Oct 01, 2008 (MARKET WIRE via COMTEX) --
Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE: ASN) announced today that its Ban Phuc nickel project (the "Project") located in the north-western province of Son La, Vietnam was adversely impacted by heavy rains associated with the typhoon 'Hagupit' during the period from 24th to 27th September 2008.
Prolonged heavy rains resulted in significant mud slides that blocked access to parts of the Project construction and caused damage to some construction equipment. A determination is being made as to the extent of the damage, the estimated costs of the required remedial work and the extent to which such costs will be reimbursed under the Company's insurance coverage, following which the Company will be in a position to provide more definitive information.
"It had been anticipated that the Project would occasionally have interruptions due to adverse weather and given the mountainous terrain the potential for mud slides was recognized however, the recent storm rains were the most severe for 34 years and consequently had a greater impact than would have normally been expected," said Collin Ellison, President and CEO of Asian Mineral Resources Limited. "The site clean-up of access roads and Project equipment is in progress in spite of the recent decision to suspend the Project construction. Additionally, Project management and personnel are working with the local community in the re-establishment and repairs to services and infrastructure."
Company Profile:
Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project in north-western Vietnam through its 90% interest in Ban Phuc Nickel Mines LLP.
For further details on the Company and the Project, please refer to the website at www.asianminres.com.
Forward-Looking Statements
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Asian Mineral Resources Limited are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Asian Mineral Resources Limited's expectations are disclosed under the heading "Risk Factors" and elsewhere in Asian Mineral Resources Limited documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts: Asian Mineral Resources Limited Collin Ellison President & CEO (416) 360-3412 (416) 367-1954 (FAX) Asian Mineral Resources Limited Paula Kember CFO (416) 360-3412 (416) 367-1954 (FAX) Email: info@asianminres.com Website: www.asianminres.com
SOURCE: Asian Mineral Resources Limited
mailto:info@asianminres.com http://www.asianminres.com
Tags: ceo community construction copper email exploration insurance mining nickel president vietnam weather
Companies: Asian Mineral Resources Ltd (AIERF), Asian Mineral Resources Ltd (ASN)
Asian Mineral Resources Limited-Typhoon 'Hagupit' Impact on the Ban Phuc Project - Zibb.com
TORONTO, ONTARIO, Oct 1, 2008 (Marketwire via COMTEX) --
Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE:ASN) announced today that its Ban Phuc nickel project (the "Project") located in the north-western province of Son La, Vietnam was adversely impacted by heavy rains associated with the typhoon 'Hagupit' during the period from 24th to 27th September 2008.
Prolonged heavy rains resulted in significant mud slides that blocked access to parts of the Project construction and caused damage to some construction equipment. A determination is being made as to the extent of the damage, the estimated costs of the required remedial work and the extent to which such costs will be reimbursed under the Company's insurance coverage, following which the Company will be in a position to provide more definitive information.
"It had been anticipated that the Project would occasionally have interruptions due to adverse weather and given the mountainous terrain the potential for mud slides was recognized however, the recent storm rains were the most severe for 34 years and consequently had a greater impact than would have normally been expected," said Collin Ellison, President and CEO of Asian Mineral Resources Limited. "The site clean-up of access roads and Project equipment is in progress in spite of the recent decision to suspend the Project construction. Additionally, Project management and personnel are working with the local community in the re-establishment and repairs to services and infrastructure."
Company Profile:
Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project in north-western Vietnam through its 90% interest in Ban Phuc Nickel Mines LLP.
For further details on the Company and the Project, please refer to the website at www.asianminres.com.
Forward-Looking Statements
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Asian Mineral Resources Limited are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Asian Mineral Resources Limited's expectations are disclosed under the heading "Risk Factors" and elsewhere in Asian Mineral Resources Limited documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities.
SOURCE: Asian Mineral Resources Limited
Asian Mineral Resources Limited Collin Ellison President & CEO (416) 360-3412 (416) 367-1954 (FAX) Asian Mineral Resources Limited Paula Kember CFO (416) 360-3412 (416) 367-1954 (FAX) Email: info@asianminres.com Website: www.asianminres.com
Tags: ceo community construction copper exploration insurance mining nickel president vietnam weather
Companies: Asian Mineral Resources Ltd (AIERF), Asian Mineral Resources Ltd (ASN)
Asian Mineral Resources Limited-Revised Corporate Strategy - Zibb.com
TORONTO, ONTARIO, Nov 03, 2008 (MARKET WIRE via COMTEX) --
Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE: ASN) announced today that it has adopted a corporate and operating strategy whereby:
- Most of the activity being undertaken at the Company's Ban Phuc Nickel Project, with the objective of a spring 2009 start-up, will be suspended.
- The Project (including a recently completed vertical ore pass) will be placed on a care and maintenance basis.
- Expenditures will be reduced to preserve corporate functionality and existence until mid-2009 without additional cash infusion other than a substantial VAT refund.
- The Project model will be revised to reflect a later start-up date and other considerations.
- Discussions will continue with the Vietnamese government regarding a number of issues and with potential providers of the finance required for Project completion and other activities.
"While we are disappointed not to be in a position to proceed with Ban Phuc Project development and other activities as originally planned, we are in the fortunate position of having sufficient cash resources to implement the new strategy," commented Mr. Collin Ellison, the President of AMR. "We have been impacted adversely by factors affecting mineral project development worldwide and also by issues specific to Vietnam that require resolution if we are to achieve our original objectives. We and our Vietnamese joint venture partner, Coxama, will be meeting shortly to discuss the implementation of the new strategy as it relates to the Ban Phuc Project."
Company Profile:
Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project in north-western Vietnam in which it has a 90% interest.
For further details on the Company and the Project, please refer to the website at www.asianminres.com.
Forward-Looking Statements
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Asian Mineral Resources Limited are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Asian Mineral Resources Limited's expectations are disclosed under the heading "Risk Factors" and elsewhere in Asian Mineral Resources Limited documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts: Asian Mineral Resources Limited Collin Ellison President (416) 360-3412 (416) 367-1954 (FAX) Asian Mineral Resources Limited Paula Kember CFO (416) 360-3412 (416) 367-1954 (FAX) Email: info@asianminres.com Website: www.asianminres.com
SOURCE: Asian Mineral Resources Limited
mailto:info@asianminres.com http://www.asianminres.com
Tags: copper corporate email exploration government joint venture nickel president vietnam
Companies: Asian Mineral Resources Ltd (AIERF), Asian Mineral Resources Ltd (ASN)
Asian Mineral Resources Limited-Ban Phuc Project Suspension - Zibb.com
TORONTO, ONTARIO, Sep 26, 2008 (MARKET WIRE via COMTEX) --
Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE: ASN) announced today that development activities on the Company's Ban Phuc nickel project will be suspended effective October 1, 2008. The Company has been unable, as the result of a combination of factors, including current market conditions and uncertainties regarding Vietnamese government policies on nickel concentrate exports, export tariffs, royalties and taxes, to obtain commitments to provide the financing required for project completion so as to permit work to continue as scheduled. The suspension will be implemented in a manner designed to maximize the value of expenditures to date, maximize cash conservation, minimize the costs of project completion on a delayed basis and provide AMR with a sufficient opportunity to resolve the various Vietnamese issues and to continue discussions and negotiations with potential providers of the required finance, including major shareholders.
"We are obviously disappointed not to be able to proceed with planned Ban Phuc development to achieve start-up with first production scheduled for June 2009," commented Mr. Collin Ellison, the President of AMR, "but prudence dictated that we suspend development and conserve enough of our remaining financial resources to give us time to deal with various issues and to continue our financing efforts. We still have a robust project that lacks only the ingredients of financing and the resolution of the Vietnamese issues we have identified in a manner that benefits both parties."
Company Profile:
Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project in north-western Vietnam in which it has a 90% interest.
For further details on the Company and the Project, please refer to the website at www.asianminres.com.
Forward-Looking Statements
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Asian Mineral Resources Limited are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Asian Mineral Resources Limited's expectations are disclosed under the heading "Risk Factors" and elsewhere in Asian Mineral Resources Limited documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts: Asian Mineral Resources Limited Collin Ellison President (416) 360-3412 Asian Mineral Resources Limited Paula Kember CFO (416) 360-3412 (416) 367-1954 (FAX) Email: info@asianminres.com Website: www.asianminres.com
SOURCE: Asian Mineral Resources Limited
mailto:info@asianminres.com http://www.asianminres.com
Tags: conservation copper email exploration export finance government market nickel president taxes vietnam
Companies: Asian Mineral Resources Ltd (AIERF), Asian Mineral Resources Ltd (ASN)
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News from Zibb.com
- Asian Mineral Resources Limited-Typhoon 'Hagupit' Impact on the Ban Phuc Project - Zibb.com
- Asian Mineral Resources Limited-Typhoon 'Hagupit' Impact on the Ban Phuc Project - Zibb.com
- Asian Mineral Resources Limited-Revised Corporate Strategy - Zibb.com
- Asian Mineral Resources Limited-Ban Phuc Project Suspension - Zibb.com
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