Creat Resources Holdings Ltd Announcement of Completion of Major Asset Sale (5920B)

TIDMCRHL

RNS Number : 5920B

Creat Resources Holdings Ltd

04 April 2013

4 April 2013

Creat Resources Holdings Limited

("CRHL" or "the Company")

Announcement of Completion of Major Asset Sale

Reference is made to our Announcement dated 17 October 2012 and Circular to Shareholders dated 23 October 2012, whereby the Company announced that, together with its relevant subsidiary, it has entered into a conditional agreement (the "Agreement") with Australian Hualong Pty Limited to dispose of all the existing mining assets.

Creat Resources Holdings Limited is pleased to announce that on the 4 April, 2013 the company was notified that the Minister approved the transfer of all tenements to Australian Hualong Pty Ltd on the 26 March, 2013. In accordance to the terms of Agreement, the Major Asset Sale is considered completed.

 
For further information please visit www.creatresources.com or contact:Creat Resources Holdings Limited          Tel: [phone] 
 Morris R. Hansen, Company Secretary 
 
 Daniel Stewart & Company                  Tel: [phone] 
  Paul Shackleton/James Thomas, Corporate 
  Finance 
 Colin Rowbury, Corporate Broking 
 
 
 About Creat Resources Holdings Limited 
 CRHL is an early stage mining exploration company holding 4 Exploration Licences and 3 Retention 
 Licences covering 109 square kilometres around the mineral rich Zeehan area in western Tasmania. 
 CRHL also has a strategy of acquiring assets in interesting resources companies that complement 
 or supplement the Company's exploration activities. CRHL is a major shareholder of Galaxy 
 Resources Limited ("Galaxy") with an interest of 6.43%. Galaxy is an Australian-based integrated 
 lithium mining, chemicals and battery company listed on the Australian Securities Exchange 
 (Code: GXY) and is an S&P/ASX 300 Index Company. Galaxy plans to be one of the world's largest 
 lithium carbonate producers and is positioning itself to be involved in every step of the 
 lithium supply chain. 
 About Galaxy Resources Limited 
 Galaxy Resources Limited ("Galaxy") is a Western Australian S&P / ASX 300 Index company which 
 plans to become one of the world's leading producers of lithium compounds - the essential 
 component for powering the world's fast expanding fleet of hybrid and electric cars. Galaxy's 
 Mt Cattlin mine aims to be the world's second largest producer of lithium mineral concentrate 
 globally, and through the development of its 17,000 tpa lithium carbonate plant in Jiangsu 
 province, Galaxy expects to be one of the largest and lowest cost lithium compound producers 
 in China. Lithium compounds such as lithium carbonate are forecast to be in short supply against 
 high future demand due to advances in long life batteries and sophisticated electronics including 
 mobile phones and computers. Galaxy has positioned itself to meet this lithium future by not 
 only mining the lithium, but also by downstream processing to supply lithium carbonate to 
 the expanding Asian market. 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCFZLFBXZFXBBL