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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (8482)	8/11/2014 2:58:15 PM
From: Goose94	Read Replies (1) \| Respond to of 202616

Morien Resources (MOX-V) Aug 11, '14 is pleased to announce it has received notice from Glencore of the intended sale of Glencore's 75% interest in the Donkin Coal Project.An arms-length third party has agreed to terms with Glencore for the purchase of the entirety of Glencore's interests in the Donkin Coal Project, including all Donkin-related property, rights, entitlements and undertakings of Glencore (the "Purchased Assets"). The terms include industry standard conditions, including the requirement that all necessary regulatory approvals are received. Pursuant to the Donkin Joint Venture Agreement between Glencore and Morien, Glencore has now offered to sell the Purchased Assets to Morien, at the same price and on the same terms and conditions as agreed with the third party (the "Right of First Refusal", or the "ROFR"). If Morien does not act on the ROFR within a 60 day period, Glencore will be entitled to complete the sale of the Purchased Assets to the third party. In accordance with the Donkin Joint Venture Agreement, the terms and conditions of this offer may not be disclosed to any third party. Morien is now reviewing the terms agreed to between Glencore and the third party and will decide in due course whether it wishes to exercise the ROFR. Morien is a non-operating royalty and minority interest investment Company focussed on the mining industry. The Company is focussed on unique mineral industry opportunities in Canada with current interests in: Donkin Coal Project: Morien holds a 25% minority interest, with a $9 million carried interest, in one of the largest undeveloped coal deposits in North America, located within 30 kilometres of a deep water port in Sydney, Nova Scotia. Approximately $43 million has been invested in the Donkin Coal Project since 2006, including $15 million by Morien. Black Point Aggregate Project: Vulcan Materials Company, the United State's largest producer of construction aggregates, purchased Morien's rights to the Black Point Aggregate Project in Q2 2014 and is currently permitting the Project for eventual production within the 2018 to 2020 period. Morien received $1 million in payments from Vulcan on signing, and is entitled to receive an additional payment of $800,000 on the successful environmental permitting of the Project, anticipated in Q3 2015. Morien and Vulcan are working jointly towards the successful completion of the Environmental Assessment process. Morien has an industry competitive royalty for the life of mine which is expected to continue for over 50 years. Banks Island Gold Project: Morien holds a 1.5% NSR Royalty over the marketable metal, ores, minerals and concentrates produced and shipped from a 1,987 hectare area within the Yellow Giant Gold property located 105 kilometres south of Prince Rupert, British Columbia. U.S.A. Industrial Mineral Interests: Morien holds various direct and in-direct interests in industrial mineral properties in the United States.