Emmerson Resources Limited: Update on the Proposed Restructure of the Tennant Creek Mineral Field JV
19.03.2018 | ABN Newswire
As announced on 19 February 2018 Emmerson Resources Ltd. ("Emmerson") (ASX:ERM) (OTCMKTS:EMMRF) has agreed with Evolution Mining Ltd. (ASX:EVN) (Evolution) to restructure the Tennant Creek Mineral Field Farm-in and Joint Venture Agreement.A Deed of Variation has been executed, and as announced Emmerson will retain 100% ownership of the majority of the Tennant Creek tenements with Evolution taking ownership of those tenements associated with the Gecko-Goanna-Orlando copper-gold prospects.
As was noted, the restructure would require Emmerson shareholder approval if the ASX deemed that Listing Rule 10.1 applies.
The ASX has now confirmed that Listing Rule 10.1 applies to the restructure and accordingly Emmerson will now seek the shareholder approval necessary to proceed with the restructure. Preparation for this shareholder meeting is in progress and details will dispatched to shareholders as soon as possible. It is currently anticipated that the general meeting of Emmerson shareholders will be held in early May 2018.
Emmerson sees the restructure as a beneficial and logical outcome for both parties and looks forward to shareholder support and quickly finalising the restructure.
About Emmerson Resources Limited:
Emmerson Resources Ltd. (ASX:ERM) (FRA:42E) is an ASX listed gold resource company that recently (July, 2014) secured a landmark Joint Venture agreement with Evolution Mining (ASX:EVN).
- Has an aggressive exploration program and dominant position in the world class Tennant Creek Mineral Field.
- Is applying new exploration concepts and technologies to unlock the next generation of gold and copper deposits.
- Owns the only carbon-in-pulp gold plant in the region.
- Has an experienced Board and Management team.
Source:
Emmerson Resources Ltd.
Contact:
Investor Enquiries: Mr. Rob Bills Managing Director & Chief Executive Officer
T: +61-8-9381-7838
www.emmersonresources.com.au
