DGAP-News
Deutsche Rohstoff AG:
DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG:
26.04.2016 / 12:16
The issuer is solely responsible for the content of this announcement.
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Deutsche Rohstoff AG:
26.04.2016 / 12:16
The issuer is solely responsible for the content of this announcement.
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Deutsche Rohstoff: Almonty signs binding heads of agreement to sell the
Wolfram Camp Mine
Almonty to become strategic shareholder of ATC Alloys Limited
Heidelberg/Toronto. Almonty Industries (DRAG share 13.2%) announced today
that it has signed a binding heads of agreement to sell the Wolfram Camp
Mine in Queensland / Australia. Potential buyer is ATC Alloys Limited, a
company that operates the largest western ferrotungsten plant in Vietnam.
Ferrotungsten which can be produced from Wolfram Camp tungsten concentrate
is a precursor product for a variety of special steel applications.
The proposed consideration for the sale is 120 million fully paid ordinary
shares in ATC Alloys at a deemed issue price of AUD 0.05 per share, or AUD
6.0 million plus the assumption of intercompany debt owed to Almonty by
WCM. Upon completion of the transaction, Almonty will hold 53% of ATC
Alloy's shares and will further be entitled to appoint two members to the
Board of the company.
The completion of the acquisition is conditional on a positive due
diligence outcome, the finalisation of legal documentation, third party
lender approval as well as statutory, regulatory and other approvals that
may be required by the parties. In addition ATC Alloys will require
shareholder approval and has to successfully complete an equity raise of at
least AUD 6.0 million.
Lewis Black, President and CEO of Almonty comments: "Almonty's proposed
majority ownership in ATC Alloys will provide both Almonty and ATC
shareholders with exposure to an expanded tungsten value chain that should
enable ATC to attract the enhanced multiples awarded to specialty metal
producer."
Detailed press releases and resource updates can be found on Almonty's
website http://www.almonty.com.
Heidelberg, 26 April 2016
Deutsche Rohstoff identifies, develops and divests attractive resource
projects in North America, Australia and Europe. The focus is on the
development of oil and gas opportunities within the United States. Metals,
such as gold, copper, rare earth elements, tungsten and tin complete our
portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de
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26.04.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service
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457831 26.04.2016
Wolfram Camp Mine
Almonty to become strategic shareholder of ATC Alloys Limited
Heidelberg/Toronto. Almonty Industries (DRAG share 13.2%) announced today
that it has signed a binding heads of agreement to sell the Wolfram Camp
Mine in Queensland / Australia. Potential buyer is ATC Alloys Limited, a
company that operates the largest western ferrotungsten plant in Vietnam.
Ferrotungsten which can be produced from Wolfram Camp tungsten concentrate
is a precursor product for a variety of special steel applications.
The proposed consideration for the sale is 120 million fully paid ordinary
shares in ATC Alloys at a deemed issue price of AUD 0.05 per share, or AUD
6.0 million plus the assumption of intercompany debt owed to Almonty by
WCM. Upon completion of the transaction, Almonty will hold 53% of ATC
Alloy's shares and will further be entitled to appoint two members to the
Board of the company.
The completion of the acquisition is conditional on a positive due
diligence outcome, the finalisation of legal documentation, third party
lender approval as well as statutory, regulatory and other approvals that
may be required by the parties. In addition ATC Alloys will require
shareholder approval and has to successfully complete an equity raise of at
least AUD 6.0 million.
Lewis Black, President and CEO of Almonty comments: "Almonty's proposed
majority ownership in ATC Alloys will provide both Almonty and ATC
shareholders with exposure to an expanded tungsten value chain that should
enable ATC to attract the enhanced multiples awarded to specialty metal
producer."
Detailed press releases and resource updates can be found on Almonty's
website http://www.almonty.com.
Heidelberg, 26 April 2016
Deutsche Rohstoff identifies, develops and divests attractive resource
projects in North America, Australia and Europe. The focus is on the
development of oil and gas opportunities within the United States. Metals,
such as gold, copper, rare earth elements, tungsten and tin complete our
portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de
---------------------------------------------------------------------------
26.04.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service
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457831 26.04.2016
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