MRC WELCOMES AR MANAGEMENT (ANDREW ROBERTS FAMILY OFFICE) AS A SIGNFICANT SHAREHOLDER
May 24 -- Emerging Mongolian gold producer, Mongolian Resource Corporation (ASX: MUB) ("MRC or the Company") is pleased to welcome the Andrew Roberts Family Office ("ARM") as a substantial shareholder.
ARM has taken a placement in MRC (9.6%) by way of new shares issued as follows:
6,150,000 shares issued at 12 cents
7,080,000 shares issued at 15 cents
For a total of 13,230,000 shares for A$1.8 million to MRC.
Combined with the issue of the new shares, ARM has also taken a further 6,150,000 shares from another company associated with the Chairman of MRC Mr Jargalsaikhan. This share sale along with the issues of the new shares will bring ARM interest in MRC to 14.1% of the shares on issue.
ARM Principal, Mr Andrew Roberts commented "We are excited to be participating in the fast growing mining market of Mongolia via an investment in MRC that assists the Company to reach its gold production targets this year and to grow production into the future."
MRC Chairman Mr Naidensuren Jargalsaikhan welcomed the new substantial shareholder "The participation of a prestigious group such as AR Management, is a strong vote of confidence in the quality of MRC's projects and personnel.
The Board looks forward to building its partnership with ARM to execute its near term objectives of getting to gold production, establishing a JORC resource, and delivering cash flow to MUB shareholders. We also look forward to working with ARM to consider other Mongolian acquisition opportunities currently available to our Group."
About AR Management
ARM is a private investment group with a substantial investment portfolio comprising international and domestic equities, direct and indirect property and alternative assets including global hedge funds, venture capital and private equity investments across a broad spectrum of industries and likes to invest for a suitable period to enable companies they invest in to grow their business.
ARM has taken a placement in MRC (9.6%) by way of new shares issued as follows:
6,150,000 shares issued at 12 cents
7,080,000 shares issued at 15 cents
For a total of 13,230,000 shares for A$1.8 million to MRC.
Combined with the issue of the new shares, ARM has also taken a further 6,150,000 shares from another company associated with the Chairman of MRC Mr Jargalsaikhan. This share sale along with the issues of the new shares will bring ARM interest in MRC to 14.1% of the shares on issue.
ARM Principal, Mr Andrew Roberts commented "We are excited to be participating in the fast growing mining market of Mongolia via an investment in MRC that assists the Company to reach its gold production targets this year and to grow production into the future."
MRC Chairman Mr Naidensuren Jargalsaikhan welcomed the new substantial shareholder "The participation of a prestigious group such as AR Management, is a strong vote of confidence in the quality of MRC's projects and personnel.
The Board looks forward to building its partnership with ARM to execute its near term objectives of getting to gold production, establishing a JORC resource, and delivering cash flow to MUB shareholders. We also look forward to working with ARM to consider other Mongolian acquisition opportunities currently available to our Group."
About AR Management
ARM is a private investment group with a substantial investment portfolio comprising international and domestic equities, direct and indirect property and alternative assets including global hedge funds, venture capital and private equity investments across a broad spectrum of industries and likes to invest for a suitable period to enable companies they invest in to grow their business.
Comments
Post a Comment