ID :
119040
Tue, 04/27/2010 - 17:56
Auther :
Shortlink :
https://oananews.org//node/119040
The shortlink copeid
MONGOLIA APPROVES MERITUS ACQUISITION OF GOLD PROPERTY
Ulaanbaatar, /MONTSAME/ Meritus Minerals Ltd (Meritus) has announced that the Mongolian Government has approved the acquisition of Troy Resources Ltd's. (Troy), subsidiary in Mongolia by Meritus as stated on 20/1/2010.
As required by law, the Mongolian Government has approved the purchase of Troy's shares in Troy Mongolian Alt Resources LLC (TMAR) by Meritus; and the name change of TMAR to Meritus MGL LLC as well as the appointment of new directors representing Meritus.
All approvals to the transaction required by Mongolian law have now been received. These approvals clear the way for Meritus to commence exploration on the Gutain Davaa high grade gold project in northern Mongolia through Meritus MGL LLC.
Meritus' subsidiary now holds an 80% interest in the Gutain Davaa project and has agreed to purchase the remaining 20% of the shares in (GD) held by a Mongolian company as disclosed on the 8th of April, 2010. Registration of this share transaction is underway.
S.Batbayar
As required by law, the Mongolian Government has approved the purchase of Troy's shares in Troy Mongolian Alt Resources LLC (TMAR) by Meritus; and the name change of TMAR to Meritus MGL LLC as well as the appointment of new directors representing Meritus.
All approvals to the transaction required by Mongolian law have now been received. These approvals clear the way for Meritus to commence exploration on the Gutain Davaa high grade gold project in northern Mongolia through Meritus MGL LLC.
Meritus' subsidiary now holds an 80% interest in the Gutain Davaa project and has agreed to purchase the remaining 20% of the shares in (GD) held by a Mongolian company as disclosed on the 8th of April, 2010. Registration of this share transaction is underway.
S.Batbayar
