PERTH, Australia, Nov. 20, 2012 /CNW/ - Elemental Minerals Ltd. (ASX,
TSX: ELM) ("Elemental" or "the Company") is pleased to provide an
updated investor presentation as part of its proposed capital raising
announced this morning.
The presentation is available on the ASX platform (http://www.asx.com.au/) and on the Company's website.
As part of the presentation, which details information about the
proposed raising, the Company has also provided a strategic update.
Elemental has as part of its ongoing strategic review received a number
of non-binding, indicative and confidential proposals concerning
potential corporate transactions and financing, infrastructure and
capital alternatives available to the Company. Whilst a number of these
proposals have been investigated and a number of parties have conducted
due diligence enquiries regarding the Company, no proposal received by
the Company is at a stage where it is capable of being implemented in
the form presented.
The most advanced of these proposals was an indicative, non-binding
highly conditional proposal received from a mining industry participant
to acquire 100 per cent of the shares in Elemental at an indicative
price of A$0.77 in cash per share. Elemental notes that this price was
based on certain assumptions and the proposal is highly conditional
(including subject to due diligence). Some due diligence has been
provided. The proposal has been withdrawn but the parties remain
willing to continue discussions regarding this proposal. There is no
guarantee that a binding proposal capable of being put to shareholders
for consideration will be achievable or forthcoming or that
negotiations will continue.
The remaining proposals considered by the Board have either been
rejected by the Board or remain incomplete, uncertain or at a very
preliminary stage with no ongoing substantive negotiations occurring in
respect of them. Accordingly, the Company does not consider those
remaining proposals to be material.
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 press release contains statements that are "forward-looking".
Generally, the words "expect," "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
Statements in this press release regarding the Company , which are not
historical facts, are "forward looking" statements that involve risks
and uncertainties, such as to completion of the capital raising
described herein 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