Central Asia Resources Ltd

Type: Company
Name: Central Asia Resources Ltd
First reported Apr 09 2014 - Updated Apr 10 2014 - 2 reports

CENTRAL ASIA RESOURCES : Operations Update

Release date- 09042014 - Central Asia Resources Limited (ASX: CVR) is pleased to announce that as part of plans to refinance the Company and the intended restart of mining operations at Dalabai, the following achievements have been made.Debt Financin ... [Published 4 Traders - Apr 10 2014]

Quotes

The Company has a debt to Manas Resources Ltd ( "MSR') in the amount of US$450,000 following the mutual agreement between the parties to terminate the joint venture agreement on the AltynTas project entered into in 2012. Pursuant to the terms of the agreement, this debt was due for repayment by 18 January 2014 . MSR has agreed to convert its debt into equity, with the issue of CVR shares at the next equity capital raising issue price, subject to regulatory or shareholder approvals, if any, and successful completion of the debt financing referred to above. To compensate MSR for the extension of term for this loan, an additional 15% of shares will be issued to MSR (ie total shares to the increased total value of US$517,500 )."

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CENTRAL ASIA RESOURCES : Operations Update [Published 4 Traders - Apr 10 2014]
Central Asia Resources provides Kazakhstan oper... [Published Mbendi - Apr 09 2014]
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