Follow on Google News News By Tag Industry News News By Place Country(s) Industry News
Follow on Google News | Entropy Resources S.A. – Termination of Joint Venture With TransAfrican Minerals LimitedThe reason of the termination is the fact that TransAfrican Minerals has failed to honor the financial and exploration commitments assumed with Entropy in due time.
MANAGEMENT'S COMMENT Eduardo Videla, President & Director of parent company Entropy Resources Pty Ltd comments: "It is a big disappointment that TransAfrican Minerals Ltd, apparently a serious emerging global mining company, has not fulfilled the financial obligations agreed in the binding MoU signed in good faith between the parties. Entropy wishes to advice to its shareholders, contractors, underlying owners and supporters, our regret by choosing TransAfrican Minerals as business partner, and also that this temporary setback will not stop its Board of Directors in its duty of care of finding the right partners and financial backers to fulfill its corporate commitment of explore and discover world-class deposits within its portfolio of properties, located in a hot-spot of the mining landscape of Argentina. Signed "Eduardo Videla" ENTROPY RESOURCES S.A./ENTROPY RESOURCES PTY LTD Eduardo Videla President & Director Entropy Resources Pty Ltd Vice President & Director Entropy Resources S.A. This release includes certain statements that are "forward-looking statements". All statements in this release, other than statements of historical facts that address future exploration, development and production activities, and other circumstances, events and developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results, events and developments may differ materially from those in the forward-looking statements. The occurrence of certain risk factors, the probability of which is unknown, may also affect actual results, events and developments expected by the Company. For further information: Eduardo Videla erv@entropyresources.com.au Office: +61-8-9475-0803, Mob: +61 400 114396 Web Page: http://www.entropyresources.com.au # # # Entropy Resources Pty Ltd (the "Company" or "Entropy") was established in 2006 with the goal of identifying and acquiring mineral exploration projects in Argentina, with an emphasis on Epithermal Gold and Porphyry Copper-Gold style deposits. End
Account Email Address Disclaimer Report Abuse
|
|