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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 |
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 ACQUVSNRVSRWRAR
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