ASX CODE: KAS
OUR PRIME COMMODITY IS TIN
LME TIN PRICE (23/12/16)US$21,225 / t
(CASH BUYER)
ABOUT KASBAHKASBAH IS AN AUSTRALIAN LISTED MINERAL EXPLORATION AND DEVELOPMENT COMPANY.
THE COMPANY (75%) AND IT'S JOINT VENTURE PARTNERS TOYOTA TSUSHO CORP (20%) AND NITTETSU MINING CO. (5%) ARE ADVANCING THE ACHMMACH TIN PROJECT IN THE KINGDOM OF MOROCCO TOWARDS PRODUCTION.
PROJECTSACHMMACH TIN PROJECT BOU EL JAJ TIN PROJECT
CAPITAL STRUCTURESHARES ON ISSUE: 694M
UNLISTED OPTIONS: 0.5M
CASH @ 30/09/16: $0.9M
CLARIFICATION ON ALTERNATIVE FUNDING OFFERKasbah Resources Limited is aware of a recent press article published on 24 December 2016 discussing details of an alternative funding offer provided to the Company.
Kasbah can confirm it did receive such an offer but this offer was made after Kasbah had binding contractual obligations in place with Pala Investments Limited (Pala), pursuant to the placement agreement announced on 19 December 2016. Proceeding with the alternative offer, after Kasbah had signed the placement agreement with Pala and funds had been transferred, would have breached the placement agreement with Pala. Hence Kasbah was not in a position to accept the alternative offer.
The Company remains focussed on working with all shareholders to complete the proposed rights issue and to continue to progress the Achmmach tin project.
MAJOR SHAREHOLDERSPALA INVESTMENTS LTD WORLD BANK (IFC)
19.9%
14.2%
AFRICAN LION GROUP 12.6% THAISARCO 4.6%
TRAXYS 4.3%
CONTACT US: +61 8 9463 6651
: info@kasbahresources.com
: www.kasbahresources.com
@kasbahresources
Kasbah Resources Limited published this content on 28 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 January 2017 08:38:05 UTC.
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