Announcement From Jinchuan Chairman Regarding Zinifex Limited’s Unsolicited Takeover Offer for Allegiance Mining NL
SYDNEY, Australia, Jan. 11 /PRNewswire-FirstCall/ —
Company Announcement Office Australian Stock Exchange Limited Dear Sir/Madam
Attached is a letter received from Allegiance Mining NL’s major shareholder, Jinchuan Group Limited, in response to Zinifex’s unsolicited takeover offer.
Yours sincerely, TONY HOWLAND-ROSE MSc, DIC, FGS, FIMMM, FAusIMM, FAIG, CEng CHAIRMAN JNMC Jinchuan Group Ltd. Jinchang City, Gansu Province 737103 P.R China Fax: (86) 935 8811612 Tel: (86) 935 8812230 http://www.jnmc.com/ Letter of Support Announcement from Jinchuan Chairman Li Yongjun Regarding Zinifex Limited’s Unsolicited Takeover Offer for Allegiance Mining NL
Jinchuan Group Limited (“Jinchuan”) is a major shareholder of Allegiance Mining NL (“Allegiance”) with a shareholding of 10.4 % of the outstanding shares of Allegiance. Jinchuan and Allegiance also have an off-take agreement for all metalliferous discoveries made by Allegiance in Tasmania.
With its near-term production profile and highly prospective Nickel Province, the vast majority of which remains unexplored, Jinchuan believes there to be significant further upside in Allegiance; and therefore the A$1.00 per share offer for Allegiance is not reflective of the true value of the company.
Jinchuan has a long-term strategic relationship with Allegiance. We strongly support the management and Board of Allegiance and believe they are creating excellent value for shareholder and jointly we will continue to do so.
Li Yongjun Chairman & President with Jinchuan Group Ltd CONTACT: Allegiance Mining NL Ph: +61 2 9397 7777 Fax: +61 2 9397 7788 http://www.allegiance-mining.com.au/
Allegiance Mining NL
CONTACT: Allegiance Mining NL, +61-2-9397-7777, fax +61-2-9397-7788,http://www.allegiance-mining.com.au/
Web site: http://www.allegiance-mining.com.au/http://www.jnmc.com/