PERTH, Australia, June 8, 2012 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) ("Elemental" or "the Company") is pleased to announce
that the Company's Board of Directors has initiated a process to
identify, examine and consider various strategic alternatives available
to the Company with a view of maximizing shareholder value. BMO
Capital Markets ("BMO") has been retained to assist with this process.
Strategic options may include, but are not limited to, strategic
financing opportunities to develop the Sintoukola Project by way of a
minority investment by a strategic party, off-take agreement(s) with
third parties, and / or other potential value maximizing transactions
such as a merger or other transaction involving the Company and a third
Commenting on the appointment of BMO, Elemental's CEO, Iain Macpherson
stated: "The appointment of BMO as our advisor, given the strong potash
credentials the group brings to the table, is the next logical step for
the development of our project and company. As a junior we always knew
that the financing of this project would be a major task. Given the
strategic nature and scalability of our high grade Sintoukola potash
deposit, we are confident that we will find partners that will provide
capital, complementing our aim to access equity and debt markets once
this process has been completed."
The Company cautions that there is no assurance or guarantee that the
review process will result in any transaction or, if a transaction is
undertaken, of the terms or timing of such a transaction. No
definitive schedule has been set for the completion of this process.
It is the Company's intention not to provide any updates with respect
to the strategic review process unless and until the Board of Directors
has approved a specific transaction or has otherwise determined that
disclosure is necessary or appropriate.
About Elemental Minerals
Elemental Minerals Limited is an advanced mining exploration and
development company that aims to grow shareholder value through its
93%-owned Sintoukola Potash Project on the Republic of Congo
coastline. Elemental Minerals is dual listed on the Australian Stock
Exchange and the Toronto Stock Exchange under the symbol ELM. For more
information, visit www.elementalminerals.com
This news release contains statements that are "forward-looking".
Generally, the words "expect," "potential", "intend," "estimate,"
"will" and similar expressions identify forward-looking statements. By
their very nature, forward-looking statements are subject to known and
unknown risks and uncertainties that may cause our actual results,
performance or achievements, to differ materially from those expressed
or implied in any of our forward-looking statements, which are not
guarantees of future performance. Statements in this news release
regarding the Company's business or proposed business, which are not
historical facts, are "forward looking" statements that involve risks
and uncertainties, such as resource estimates and statements that
describe the Company's future plans, objectives or goals, including
words to the effect that the Company or management expects a stated
condition or result to occur. Since forward-looking statements address
future events and conditions, by their very nature, they involve
inherent risks and uncertainties. Actual results in each case could
differ materially from those currently anticipated in such statements.
Investors are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date they are made.
SOURCE Elemental Minerals Limited
For further information:
Chief Executive Officer
Tel: +27 (0) 76 238 4461
Tel: +27 (0) 82 445 5291
Investor Relations Manager
Tel: +27 (0) 83 604 0820
Johannesburg Office: +27 11 469 9140