Message Lun 8 Oct 2012 14:23

Albidon in talks with Jinchuan

Albidon in talks with Jinchuan
October 8, 2012
By NKOLE CHITALA
ALBIDON Limited says the board is currently in discussions with majority shareholder Jinchuan Group Limited over the best course of action for Albidon’s future.
Company executive director Yimin Zhang says the board of Albidon Limited has continued to be engaged in extensive negotiations with potential third party investors regarding restructuring options for Albidon.
“Unfortunately, the parties have not been able to conclude a transaction and the negotiations have ended.
“The board is currently in discussions with majority shareholder Jinchuan Group Limited over the best course of action for Albidon’s future,” Mr Zhang said in a statement posted on the firm’s website.
He says Jinchuan will continue to provide working capital funding to Albidon in form of short-term working capital loan facilities.
“As there remains ongoing uncertainty as to the company’s financial future, the company’s securities will remain in voluntary suspension,’’ he says.
Mr Zhang says the board will make further announcements in due course.
Albidon is an Africa-focused exploration and development company with an emphasis on nickel.
The company partly owns Munali Nickel mine in Mazabuka and has spent the past seven years building a large portfolio of nickel sulphide projects ranging from production stage to grass roots exploration.
In the past year Albidon has largely completed the transformation from junior explorer to nickel mining company.
The company is now part of the ranks of an exclusive group, an independent producer of high quality nickel concentrates from a new Greenfields mining project.
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU