Taung Gold International Limited, an exempted company incorporated in Bermuda with limited liability, the shares of which are listed on the Stock Exchange
DISCLOSEABLE TRANSACTION GUARANTEE MADE IN CONNECTION WITH THE FORMATION OF JOINT VENTURE GUARANTEE On 9 June 2017, TG BVI, a non-wholly owned subsidiary of the Company, and the Joint Venture Partner, entered into the Joint Venture Agreement to establish the Joint Venture Company in preparation for the bidding of the Mining Project, namely a copper project in Pakistan. Pursuant to the Joint Venture Documents, bank guarantees of an aggregate amount of up to US$50 million (equivalent to approximately to HK$387.5 million) shall be provided in favour of the Joint Venture Partner as guarantee for the performance of the obligations of TG BVI under the Joint Venture Agreement. Accordingly, Lee Hing Mining, an indirect wholly-owned subsidiary of the Company, procured the Bank to provide Bank Guarantee of an amount of up to US$34.6 million (equivalent to approximately HK$270 million) in favour of the Joint Venture Partner on 9 June 2017 by entering into the Guarantee Agreement with the Bank pursuant to which Lee Hing Mining shall provide security equivalent to US$34.6 million (equivalent to approximately HK$270 million) to secure the provision of the Bank Guarantee by the Bank. The other bank guarantee of US$15.4 million has been procured and delivered by an independent third party in favour of the Joint Venture Partner on 9 June 2017. ......
Mining Project: the project for, inter alia, exploration, mineral deposit evaluation, mine construction, mine development, mining, the reclamation or rehabilitation of and remediation of land, the extraction, beneficiation, transportation, handling, storage and marketing of copper produced, the processing of mine tailings and all other ancillary activities, in each case, in respect of the copper deposit namely “Tanjeel H4 deposit”, situated in the north west of District Chagai, Balochistan, Pakistan.......
http://www.hkexnews.hk/listedco/listconews/sehk/...LTN20170612039.pdf So wie ich es sehe ist die Taung Gold International Limited einer der Bieter bei H4.
niespe
|