Statement re. Suspension

    RNS Number : 5283W
  Monto Minerals Ltd
  12 June 2008
   

    Monto Minerals Limited

    Statement re Suspension

    and

    Resignation of Director

    Monto Minerals Limited (the "Company"), an industrial minerals company, announces that it has requested
    that trading in its shares on AIM be suspended with immediate effect. 

    As announced by the Company on 3 March 2008, the ramp up in production at the Company's Goondicum
    mine has been slower than expected which has resulted in an increase in the Company's working capital
    requirements. The Company has requested a suspension in the trading of its ordinary shares pending the
    outcome of discussions aimed at resolving these funding requirements. 

    The request for suspension has been approved by London Stock Exchange plc and accordingly trading is
    now suspended with immediate effect. A further announcement is expected before 7.30 a.m. (BST) on
    Monday 16 June 2008.

    Trading in the Company's ordinary shares was also halted today on the ASX. 

    Mark McCauley has today tendered his resignation as a Non-Executive Director of the Company on the
    basis of a conflict of interest. Mr McCauley is presently a director of RMM Capital, a Queensland based
    private equity firm. RMM Capital has previously arranged funding for the Company by way of a convertible
    loan note as announced on 13 April 2007. 

    Enquiries:

    Peter Slaughter, Non-executive Chairman - [phone]

    Richard Brown, Richard Greenfield, Ambrian Partners Limited - [phone]

This information is provided by RNS
The company news service from the London Stock Exchange
 
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