19th May 2008 07:34
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ALBIDON LIMITED |
Level 1 |
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62 Colin St |
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West Perth 6005 Western Australia ARBN 107 288 755 Tel:+6189211 4600 Fax: +6189211 4699 Email:[email protected] ASX Code: ALB AIM Code: ALD |
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19 May 2008
Announcement by Lion Selection Limited
Albidon notes the announcement released today by Lion Selection Limited (refer to the hyperlink below) which refers to the intended sale of a suite of assets, including the sale of a stake in Albidon held by the African Lion funds (in which Lion Selection has a 27.5% interest).
http://www.lionselection.com.au/documents/ASX_LSTPlanAnnouncement.pdf
Albidon confirms as announced on 22 April that it continues to work with the Royal Bank of Canada to assess corporate opportunities and to implement the Company's growth strategy.
Albidon will be in contact with Lion Selection to obtain more information regarding its announcement and will consider the possible ramifications of Lion Selection's announcement in the context of the advice it is obtaining from Royal Bank of Canada.
As a significant new nickel producer with a pipeline of high quality exploration assets in Africa, Albidon is well placed to pursue an aggressive growth and development strategy.
The Munali Nickel Project in Zambia is one of only two new nickel sulphide mines to enter production worldwide in the foreseeable future.
If you have any queries please contact the Chief Financial Officer, Nicholas Day or Managing Director, Dale Rogers on +61 8 9211 4600 or email [email protected].
Albidon's nominated adviser is RFC Corporate Finance Ltd, contact Stephen Allen +61 8 9480 2500.
Additional information may also be viewed on Albidon's website at www.albidon.com
Related Shares:
ALD.L