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XREF LIMITED — Interim / Quarterly Report 2014
Jan 21, 2014
66097_rns_2014-01-21_3c20299d-f29c-4c86-a9d9-a964e9134089.pdf
Interim / Quarterly Report
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King Solomon Mines Limited
QUARTERLY REPORT FOR THE PERIOD ENDED 31 DECEMBER 2013
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Project location map.
GENERAL
The Company is focused on the sale of Sonid North, its principal project in Inner Mongolia. The continuing difficult state of the commodities market has made it difficult to achieve an early sale.
The Company continues to review a number of minerals opportunities as potential acquisitions.
The Board believes the Company will be successful in moving its focus to a new minerals opportunity.
The company was successful in raising $56,600 through a share placement during the quarter. It also reached agreement for the sale of its office in Huhhot for RMB 1.6 million (approximately $300,000). The company has received an initial payment of RMB 350,000. The balance is due by the end of the year.
The Company had cash of $131,000 at 31 December 2013. Current cash resources are forecast to cover expected costs to 31 August 2014.
Stephen McPhail Managing Director
Enquiries may be directed to Stephen McPhail at phone 1800 061 569 (from Australia), +6421 897 667 (from elsewhere) or email [email protected] .
www.kingsolomonmines.com.au King Solomon Mines Limited ARBN 122 404 666
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Sonid Zuoqi Project locations.
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