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RSX Resaca

2.69
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Resaca LSE:RSX London Ordinary Share COM SHS USD0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.69 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Acquisition

05/08/2005 5:46pm

UK Regulatory


RNS Number:8196P
Resmex plc
05 August 2005


5 August 2005
Resmex plc ("Resmex" or "the Company")

Acquisition

Resmex announces that it has acquired the entire share capital of Sermines de
Mexico S.A.de C.V. ("Sermines"), a company which owns mineral exploration rights
to assets in the North of Senora Province in Mexico, for a consideration of
US$150,000. The consideration will be satisfied by way of US$150,000 in cash.

Sermines was formed in November 2005 and has had no material trading to date.
Other than as detailed in this announcement, Sermines has no significant assets
or liabilities.

An independent assessment and valuation of the fair market value of the mineral
exploration assets of Sermines de Mexico S.A. de C.V. was prepared by Dr John W.
Cottle who is Principal of the Australian based international geological
consulting firm, Cotlco Pty Ltd. Dr Cottle is a Fellow and Chartered
Professional of the Australasian Institute of Mining and Metallurgy (AusIMM).
Dr. Cottle meets the requirements of a competent person in accordance with the
Joint Ore Reserves Committee (JORC) guidelines on the Australasian Code for the
Reporting of Mineral Resources and Ore Reserves (2004), and is an 'Expert' and/
or 'Specialist' in terms of the Australasian Institute of Mining and Metallurgy
(AusIMM) Valmin code (1998).

The study was completed within a binding agreement between Cotlco Pty Ltd,
Resmex plc and Brooking Enterprises Ltd and the full form report is titled
'Sermines de Mexico S.A. de C.V. - Independent Mineral Asset Valuation for
Resmex PLC prepared by Cotlco Pty Ltd (ABN 94 182 764 052)' and dated May 2005.
With consideration of the concessions tenure status, geological environment,
neighbouring gold discovery successes, past exploration applications and
financial expenditures and future exploration proposals, Cotlco Pty Ltd
concludes that the fair market value of the mineral exploration assets of
Sermines de Mexico S.A. de C.V. ranges between AUD$ 0.2m and AUD$ 0.3m.

Dr John W. Cottle has consented to the use of the above information in the form
in which it appears.



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

END
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