Mindoro Welcomes Significant New Investor as Prime Resources Holdings, Inc. Acquires 13.33% of Mindoro's Shares

Mindoro Resources Ltd. (TSX VENTURE:MIO)(ASX:MDO)(FRANKFURT:WKN 906167)
("Mindoro", or "the Company") is pleased to advise that Prime Resources
Holdings, Inc. ("PRHI") has acquired approximately 13.33% of Mindoro's issued
and outstanding common shares through a secondary trade in the market.


In a press release dated January 16, 2014, PRHI disclosed that it had acquired
39,649,616 CHESS Depository Interests ("CDIs") of Mindoro through the facilities
of the Australian Stock Exchange. Each CDI represents an uncertificated unit of
beneficial ownership in the common shares of Mindoro, with one CDI representing
one underlying common share in the capital of Mindoro. 


PRHI further reported that the securities were acquired in a single trade at a
price of $0.0209 per CDI (A$0.02142 converted into Canadian dollars using an
exchange rate of $1.00 = A$1.0248, being the closing exchange rate reported by
the Bank of Canada on January 15, 2014). PRHI has acquired the CDIs for
investment purposes, and may acquire further CDIs or common shares of Mindoro,
or dispose of its holdings of CDIs, both as investment conditions warrant.


About Prime Resources Holdings, Inc. 

On December 17, 2013, Mindoro disclosed that its joint venture partner, TVI
Pacific Inc. (TSX:TVI)(OTCQX:TVIPF), had executed various definitive agreements
with PRHI, an arm's-length Philippine corporation, relating to financing and
investment in TVI and its indirectly held Philippine assets, including Mindoro's
Agata and Pan de Azucar projects. The transactions contemplated in the
agreements would result in PRHI acquiring an approximate 5% direct equity
interest in TVI and a 68.42% direct equity interest in TVIRD, through which
TVI's option to earn 60% interest in Mindoro's Agata and Pan de Azucar Projects,
are held.


PRHI is a wholly-owned subsidiary of Prime Asset Ventures, Inc. ("PAVI"). PAVI
is a holding corporation of utilities engaged in various industries which
include water distribution infrastructure, energy and power generation as well
as retail distribution, cable and antennae television, and telecommunications. 


Mindoro's CEO, Tony Climie, commented, "We previously welcomed PRHI to the joint
venture as a strong local partner and we are now pleased to also welcome PRHI as
a strong shareholder in our company. We believe PRHI's purchase of Mindoro
securities in the market sends a significant message of support for the Agata
Project and meeting our production objectives in 2014." 


Mindoro urges its shareholders and other interested parties to read TVI's
December 11, 2013, and January 10, 2014, press releases, available on TVI's
website (www.tvipacific.com) and SEDAR (www.sedar.com), which contains
additional important information about TVI's agreements with PRHI. 


On behalf of the Board of Directors, 

Tony Climie, CEO

About Mindoro

Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO), Australian
Securities Exchange (MDO) and Frankfurt Stock Exchange (WKN 906167). Mindoro has
a 75% interest and an option to acquire the remaining 25% in the Agata Nickel
Project, Mindanao, and the Pan de Azucar Sulphur-Copper-Gold Project, Iloilo.
TVIRD has the option to earn up to a 60% interest in these projects by meeting
the earn-in requirements outlined in the June 24, 2013, release. Mindoro also
holds a 20.8% stake in ASX listed Red Mountain Mining (ASX:RMX), which has a
100% direct and indirect interest in the Batangas gold and copper-gold projects.



Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. 


Tony Climie P.Geol., is the CEO of Mindoro Resources Ltd and has sufficient
experience which is relevant to the style of mineralization and type of deposit
under consideration and to the activity which he is undertaking to qualify as a
qualified person as defined by National Instrument 43-101. Tony Climie consents
to the inclusion in the report of the matters based on the information in the
form and context in which it appears.


This release may contain forward-looking statements including management's
assessments of future plans and operations, and expectations of future
production. These statements are based on current expectations that involve a
number of risks and uncertainties, which could cause actual results to differ
materially from those anticipated. These risks include, but are not limited to,
the risks associated with the mining and exploration industry (e.g. operational
risks in development, exploration and production; delays or changes in plans
with respect to exploration or development projects or capital expenditures; the
uncertainty of reserve estimates; the uncertainty with respect to results of
exploration, the uncertainty of estimates and projections relating to production
and the uncertainty of the availability of capital). The assumptions used in the
preparation of such statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward-looking statements. The Company does not undertake to
update forward-looking statements except where required to do so by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mindoro Resources Ltd.
Australia
Clayton Northey
+61 3 9028 8187
ir@mindoro.com


Mindoro Resources Ltd.
Canada
Penny Gould
+780.719.8895
ir@mindoro.com


Jeanny So
CHF Investor Relations
+1 416 868 1079 ext. 225
ir@mindoro.com
www.mindoro.com
Mindoro Resources Ltd. (TSXV:MIO)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024