Deutsche Rohstoff AG
Deutsche Rohstoff AG: Almonty Industries announces proposed merger with Woulfe Mining
Deutsche Rohstoff AG / Key word(s): Miscellaneous Deutsche Rohstoff: Almonty Industries announces proposed merger with Woulfe Mining Heidelberg. Almonty Industries announced today that it has entered into a non-binding letter of intent to combine the businesses of the two companies and create the leading tungsten company outside China. The transaction is expected to be closed within the next 30 days. The full text of the press release can be found on Almonty’s webpage www.almonty.com Almonty operates the Los Santos mine in Spain as well as the Wolfram Camp mine in Australia. In addition, Almonty is developing the Valtreixal tin/tungsten mine in northwestern Spain with anticipated production in 2017. Woulfe’s principal asset is the 100%-owned Sangdong tungsten/molybdenum project in South Korea. The project comes with a final feasibility study and a very significant tungsten resource. Thomas Gutschlag, CEO of Deutsche Rohstoff, commented: “Almonty consequently implements its strategy to build the largest tungsten producer outside China. It reaches critical mass to dictate WO3 pricing and/or become a highly attractive acquisition target. Deutsche Rohstoff as Almonty’s second largest shareholder fully supports this strategy and are convinced that our shareholding will gain further value.” Deutsche Rohstoff holds 24.9 % of the Almonty share capital and in addition a CAD 7.5 million convertible bond which can be converted into Almonty shares at a share price of CAD 1.45. Heidelberg, 27 January 2015 Deutsche Rohstoff (Heidelberg, Germany), listed in the Entry Standard segment of Frankfurt Stock Exchange, is establishing a new primary producer. The company’s focus is placed on oil & gas and so called high tech metals such as tin, tungsten, and rare earth metals. All projects are located in political stable countries with high environmental standards. The business concept is based on redeveloping deposits, which have been well explored in the past. For more information please visit www.rohstoff.de. Contact: 2015-01-27 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Deutsche Rohstoff AG | |
Friedrich-Ebert-Anlage 24 | ||
69117 Heidelberg | ||
Germany | ||
Phone: | 06221-87100-11 | |
Fax: | 06221-87100-22 | |
E-mail: | gutschlag@rohstoff.de | |
Internet: | www.rohstoff.de | |
ISIN: | DE000A0XYG76, DE000A1R07G4, | |
WKN: | A0XYG7, A1R07G | |
Indices: | Entry Standard (Performance TOP 30) | |
Listed: | Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in Open Market (Entry Standard) | |
End of News | DGAP News-Service |
316807 2015-01-27 |