08:25 AEST Mar 22, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.
Perth, Australia (ABN Newswire) -
Aspire Mining Limited (ASX: AKM) (PINK: ASPXF) has been notified that commodity trading house Noble Group (SIN: N21) (PINK: NOBGF) has agreed to acquire a further 18 million shares in Aspire from Mongolian shareholders representing the vendors of Aspire's Ovoot Coking Coal Project.
The share sale represents 3.36% of the current issued capital of the Company, which will give Noble an 8.6% undiluted interest in the Company.
Aspire welcomes the continued interest and investment in the Company by Noble.
The block of 18 million shares subject to sale by the Mongolian vendors to Noble represents just 10% of the vendors' holdings. Aspire looks forward to continuing its good relationship with the vendors.
Aspire has received confirmation from the Mongolian vendors that they do not intend to sell additional shares at this time.
About Aspire Mining Limited :
Aspire Mining Limited (ASX: AKM) is an ASX listed resource company focused on developing world class quality coking coal projects in Mongolia. The Company acquired 100% of the Ovoot Coking Coal Project and the Nuramt Coal Project in February 2010. Drilling at the Ovoot Coking Coal Project commenced in April 2010 and has now established a significant maiden 330.7 million tonne JORC Resource.
The Company has three quality coal projects in Mongolia and is looking to aggressively develop this portfolio further in the coming year.
Contact:
David Paull
Managing Director
Aspire Mining Limited
Tel: +61-8-9381-1995
Email: info@aspiremininglimited.com
http://www.aspiremininglimited.com
