Widespread's Asian Minerals appoints new CEO

Widespread’s Asian Minerals appoints new CEO

 

Asian Mineral Resources (“ASN”) is Widespread’s largest investment, presently representing 41.4% of total assets.    

 

ASN made the announcement below in Canada last night.

 

For and on behalf of the Board,

 

Chris D Castle

 

Onekaka, 19 March 2009

 

TORONTO, ONTARIO--(Marketwire - March 18, 2009) - Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE:ASN) announced today the resignations of Collin Ellison as President and CEO and as a director of the Company and the appointment of Robert Guest to replace him as President and CEO. Mr. Guest has been the General Manager of Ban Phuc Nickel Mines, based in Hanoi, since March 2007. In making the announcement Jim Askew, Chairman of the Company, commented "We would like to thank Collin for his contribution and we wish him well in his future endeavors. Events and circumstances affecting the world economy and the Company itself resulted in delaying completion of our Ban Phuc Project and the need to conserve cash so AMR can survive. Collin's successor, Rob Guest, has overseen development of the Ban Phuc Project since construction commenced, and is fully engaged in discussions with the Government agencies in resolving a number of issues whose resolution is an important pre-condition to the successful completion of construction of the Project."

Company Profile:

Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project in north-western Vietnam in which it has a 90% interest. For further details on the Company and the Project, please refer to the website at www.asianminres.com.

 

 

NTA 55¢

Key stats as at 18 May

Security

Number on issue

Market price (cents)

Market Value ($M)

Net assets ($M)

Ordinary shares

23,490,449

16.0

3.758

12.8*

Market value discount    (ords only)  

 70.7%

 

Listed warrants

8,505,123

0.8

.068

 

* Our ASN shareholding is now held for NTA disclosure purposes at a valuation of CAD 1.914 million based on our share of net assetsNTA per WID share valuing ASN at the current spot market price is 46.8 cents. NTA per share valuing all listed assets at spot market prices is 22.7 cents.

 

 

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