21st May 2014
Company Announcements Office
ASX Limited
Exchange Centre
20 Bridge Street
Sydney NSW 2000
Proto Commences Discussion with Tianjin
The Board of Proto Resources & Investments Ltd ("Proto", the "Company") (ASX:PRW) is pleased to announce that discussions with a potential off taker in regards to the 100% owned Barnes Hill mining licence are progressing positively. Through these discussions the company Tianjin Tai Jiang International Trade Co ("Tianjin Tai Jiang") will explore the potential of working with Proto for the mining potential in iron and nickel mineral production from Barnes Hill Mining Licence 1872 P/M.
Tianjin Tai Jiang are looking to invest into Proto by way of a cornerstone equity investment in ASX listed PRW. This investment will entail the mining plan and development of the proposed iron ore production development planned for the second half of the 2014 calendar year and the production and development of the nickel laterite project on the Barnes Hill Mining Licence
1872 P/M.
Tianjin Tai Jiang supplies hinterland industries in the city of Tianjin. Tianjin is a dual-core city on the coast of the Bohai Sea in northern China between Shanghai and Beijing. It is one of the five national central cities of the People's Republic of China. The population of Tianjin is 14 and a half million people and its primary industries are mineral import and exports, automotive, chemical production and oil/gas. As of the end of 2010, around 285 Fortune 500 companies have set up base in Binhai, which is a new growth pole in China and is a hub of advanced industry and financial activity.
Figure 1: Map of China with Tianjin marked in red
In regards to the economic situation of Tianjin the gross domestic product (GDP) was up to
10.6% in the first Quarter 2014. In April 2014 the municipality saw its GDP grow up to 10.6% year on year to RMB 319.03 billion in the first quarter of this year according to the latest statistics released by the Tianjin Statistics Bureau. The gross output of industrial enterprises,
each with a core business revenue of at least RMB 20 million, in Tianjin rose 10.7% year on
year to RMB 694.89 billion in the first three months while the value added industrial output from these enterprises rose 11.4% year on year.
Figure 2: Tianjin
Proto and Tianjin Tai Jiang are currently working together for the potential of an off take agreement and strategic alliance and more details will be released to market as they become available.
Shareholders and interested parties should direct their enquiries to: Mr Andrew Mortimer
Chairman
Proto Resources & Investments Ltd
T: +61 (2) 9225 4000
E:andrew.mortimer@protoresources.com.au
And consult the company's website: www.protoresources.com.au
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