Latin Resources To Cancel Trading On OTCQX And SETSQX

Aug. 09, 2013 3:37 AM ET
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Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of listed companies across the globe daily. We are one of the fastest growing financial media portals in the world. The group also operates hugely successful “investor forums” where three or four companies present to an audience of high net sophisticated investors, fund managers, hedge funds, private client brokers and analysts. Ian Mclelland founded Proactiveinvestors in 2006 as a way to channel his own views on companies small and mid-cap public companies. What started as a hobby quickly turned into a full time job as the website's readership exploded. One2One forums were added later in 2006, and within two years the company had expanded its operations into Canada and Australia. In 2009 the company expanded into Germany and finally into the US in 2010. Proactiveinvestors is now one of the fastest growing global financial media organizations in the world receiving more than one million visitors per month, with investor forums held across the globe on a regular basis.

Latin Resources (ASX: LRS) has cancelled its admission to the OTCQX platform and will cease trading on the SETSQX platform of the London Stock Exchange in line with its ongoing strategy to reduce overheads.

It had previously reduced directors and senior management fees and salaries by 20% and suspended all major exploration until joint venture partners are secured on the Guadalupito & Ilo projects.

The company also reduced staff at its office in Lima, Peru, and reduced the number of external consultants and discretionary spending.

It is also weighing the option of divesting some of its non-core assets.

Shares in the company will cease trading on SETSQX on 5 September 2013. Trading on the ASX will be unaffected.

Ilo Norte

The Ilo Norte copper‐gold project in Southern Peru is ready to drill with all permits and authorisations now received.

Elevated levels of copper and gold have being noted in soil samples located in the vicinity of previously reported IP geophysical anomaly, enhancing the prospectively of the copper-gold drill target.

Chip samples have also returned 80 metres at 0.19% copper and 0.05 grams per tonne gold about 1 kilometre south of the main soil anomaly, highlighting the potential for much higher grades down-dip.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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