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ORBMINCO LIMITED — Interim / Quarterly Report 2015
Nov 1, 2015
65473_rns_2015-11-01_991c0a3f-f13c-47c0-b7e5-18a075c2ddf1.pdf
Interim / Quarterly Report
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AusROC Metals Ltd
30 October, 2015
ASX Release
By e-lodgement
Quarterly Activities Report September 2015
The Directors of AusROC Metals Limited (ASX: ARK) (“AusROC” or “the Company”) are pleased to present the quarterly activities statement for the quarter ended 30 September 2015.
Shenglong Acquisition
As has been previously announced, the company has been trying to secure finance to secure an interest in Shenglong International Investment Limited (“Shenglong”).
AusROC has paid US$2 million in deposit to the vendor for an exclusive option to purchase up to 77.58% of Shenglong, which in turn owns 90% of two exploitation permits M’Passa-Moubiri 2011-471 and Mindouli 2011-472 in the Republic of Congo. The remaining 10% is held by the Congolese Government.
Throughout the quarter the company continued discussions with the vendors and potential financiers with respect to trying to raise the necessary debt/equity funding to complete the transaction. The company remains in advanced discussions with a number of parties regarding the securing of this financing as well as the vendor and will make a definitive announcement regarding the transaction by 16[th] November 2015.
Rio Puerco
During the quarter the company sold its remaining 20% of the Rio Puerco Uranium project for AUD$40,000 to the owners of the 80%, Western Energy Investments LLC.
San Marcos
During the quarter Pelican Resources advised the company that they were withdrawing from the farm in arrange they had with the company. The company did not renew these tenements.
Blue Bell and De Soto
The company had an option to purchase 100% of these projects that was due this year. The payment was for a fee of US$169,000. The company was not in apposition to exercise this option due to not having the funds at the time of the option being due
AusROC Metals Ltd
ABN 99 073 155 781 Ground Floor, 1 Havelock Street, West Perth, WA 6005 PO Box 1788, West Perth, WA, Australia, 6872 Telephone: (08) 9488 5220 Facsimile: (08) 9324 2400 Web: www.ausamerican.com
AusROC Metals Ltd
however remains in negotiations with the owner of these projects to renegotiate a new option agreement over the projects.
Regards,
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Jim Malone
Company Secretary
AusROC Metals Ltd
ABN 99 073 155 781 Ground Floor, 1 Havelock Street, West Perth, WA 6005 PO Box 1788, West Perth, WA, Australia, 6872 Telephone: (08) 9488 5220 Facsimile: (08) 9324 2400 Web: www.ausamerican.com