JIN.v Jinshan Gold Mines
NO ONE follows this stock yet it quietly firms.
It appears briefly on KITCO now and again as a banner.
jinshanmines.com
I have to believe that Robt Friedland will hatch this when he's ready, in the meantime, they head to production.
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Ivanhoe acquires 78.5% interest in JV partner
2005-12-02 19:52 ET - News Release
See News Release (C-IVN) Ivanhoe Mines Ltd
Ms. Beverly Bartlett of Ivanhoe reports
IVANHOE ACQUIRES ADDITIONAL JINSHAN COMMON SHARES
Ivanhoe Mines Ltd. is issuing this news release pursuant to National Instrument 62-103, Section 111 of the Securities Act (British Columbia) and Section 141 of the Securities Act (Alberta) with respect to common shares of Jinshan Gold Mines Inc.
Ivanhoe Mines Ltd. has acquired from the issuer 48,552,948 additional common shares of the issuer pursuant to an asset transaction involving, among other things, the assignment by Ivanhoe to the issuer of Ivanhoe's interest in certain mineral projects in which Ivanhoe and the issuer were joint participants, the relinquishment of certain contractual rights and the payment of approximately $4-million (U.S.) in cash. Prior to the closing of the transaction Ivanhoe held 18,697,112 common shares of the issuer and warrants exercisable to purchase an additional nine million common shares of the issuer. For the purposes of applicable securities legislation, Ivanhoe is deemed to beneficially own the common shares issuable upon exercise of the warrants. Accordingly, Ivanhoe was deemed to own, prior to the transaction, 27,697,112 common shares of the issuer representing 44.7 per cent of the issuer's then issued and outstanding common shares. Following the closing of the transaction and as of the date hereof, Ivanhoe is deemed to beneficially own 76,250,060 representing 78.5 per cent of the issuer's current issued and outstanding common shares, assuming full exercise of Ivanhoe's warrants.
The purpose of the transaction was to replace Ivanhoe's direct interest in the mineral projects in which Ivanhoe and the issuer were joint participants with an equivalent equity interest in the issuer in order to allow the issuer to acquire full ownership in the projects. Depending on the issuer's success in exploring and developing these projects, and in seeking out and obtaining additional projects, Ivanhoe may choose to acquire additional securities of the issuer or dispose of some or all of the securities of the issuer as circumstances warrant.
For more information, or to obtain a copy of Ivanhoe's early warning report in respect of Ivanhoe's acquisition of additional common shares of the issuer, contact Beverly Bartlett at 604-688-5755. |
