In aggregate 9,535,000 Warrants have been issued pursuant to the Offering and the exercise of the Special Warrants. No application is being made for the Warrants to be admitted to trading on AIM. Crusher and Grinding for Silicon Quartz
Eldorado Gold Corporation (“Eldorado”) and Greenwood Investments Limited (“Greenwood”), who prior to the Offering were respectively interested in 26.7%. and 20.0% of the issued Ordinary Shares of the Company, have participated in the Offering. Eldorado subscribed for 2,340,000 Units (equivalent to 2,340,000 Ordinary Shares and 1,170,000 Warrants) and Greenwood subscribed for 1,000,000 Units (equivalent to 1,000,000 Ordinary Shares and 500,000 Warrants) at the Offering Price. Following completion of the Offering and the exercise of the Special Warrants, Eldorado will be interested in 16,840,000 Shares representing 26.3% of the enlarged share capital of the Company. Greenwood will be interested in 10,000,000 Shares representing 15.6% of the enlarged share capital of the Company. Assuming the exercise of the Warrants currently held by Eldorado (but excluding the exercise of any other securities that Eldorado holds which could be converted into Ordinary Shares) and after giving effect to the exercise of the Special Warrants, Eldorado would hold 29.0% of the outstanding Ordinary Shares, without giving effect to the exercise or conversion of any other convertible securities of the Company. Assuming the exercise of the Warrants currently held by Greenwood (but excluding the exercise of any other securities that Greenwood holds which could be converted into Ordinary Shares) and after giving effect to the exercise of the Special Warrants, Greenwood would hold 16.3% of the outstanding Ordinary Shares, without giving effect to the exercise or conversion of any other convertible securities of the Company. Aluminum Crushing and Grinding
Kria Resources Ltd. is pleased to announce that Kria shareholders have approved the proposed arrangement whereby Trevali Resources Corp. will acquire all of the issued and outstanding common shares of Kria and Kria will become a wholly owned subsidiary of Trevali (the “Arrangement”). At the special meeting called to consider, among other things, the Arrangement, Kria disinterested shareholders holding approximately 49% of the issued and outstanding common shares of Kria and voted with more than 99% of the votes cast being voted FOR the Arrangement.
Teck Resources Limited will release its first quarter 2011 earnings results on Monday, April 18, 2011 after markets close.
The company will hold an investor conference call to discuss the first quarter 2011 earnings results at 11:00 AM Eastern time, 8:00 AM Pacific time, on Tuesday, April 19, 2011. Conference call dial in at (416) 695-6623, no pass code required. Media are invited to attend on a listen-only basis.
As previously reported, the Company has been in the process of preparing restated financial statements for the fiscal quarters ended March 31, June 30, and September 30, 2009 and had received notices from NASDAQ for not complying with NASDAQ’s filing requirement as set forth in Listing Rule 5250(c)(1) (the “Rule”) because the Company had not filed its Form 10-K for the year ended December 31, 2009 and Forms 10-Q for each of the periods ended March 31, June 30, and September 30, 2010.
The Company appeared before the NASDAQ Hearings Panel (the “Panel”) on November 11, 2010, subsequent to which the Panel determined to continue the listing of the Company’s common stock on The NASDAQ Stock Market subject to an extension through March 28, 2011, by which date the Company must file all delinquent reports with the SEC. Under NASDAQ’s rules, the extension through March 28, 2011 represents the maximum length of time that the Panel may grant the Company to come back into compliance with its rules.
Since the Company is not able to make all such filings by March 28, 2011 and no further extensions are available, the Company expects to receive a delisting determination from the Panel in the very near term indicating that the Company’s common stock will be delisted from The NASDAQ Stock Market. The Company will provide additional disclosure upon receipt of such notice from NASDAQ. Dolomite Processing use in Glass Factory