14th Oct 2010 07:00
14 October 2010
African Minerals Limited
("African Minerals" "AML" or "the Company")
Update on Cape Lambert Resources/Marampa Infrastructure Transaction
African Minerals Limited (AIM:AMI), the iron ore project development company that is developing the Tonkolili project in Sierra Leone, West Africa, announces that, further to its press release of 16 July 2010, AML continues to work together with Cape Lambert Resources Limited (ASX: CFE) ("Cape Lambert") regarding Cape Lambert's planned US$45M investment in the Marampa/Pepel rail and port infrastructure. Documentation of the agreements in connection with the investment continues to be progressed but is not expected to be finalised by 14 October 2010 as originally envisaged.
Accordingly, the parties have together agreed a revised long stop date of 31 January 2011 for completion of the documentation for the various agreements associated with the transaction. The Company will provide further updates in due course.
Enquiries:
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African Minerals Limited
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Tel: +44 (0) 1481 726833
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Alan Watling
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Canaccord Genuity Limited
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Tel: +44 (0) 20 7050 6500
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Robert Finlay
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Guy Blakeney
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Mirabaud Securities Limited
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Tel: +44 (0) 20 7878 3360
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Rory Scott
Pav Sanghara
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Pelham Bell Pottinger Limited
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Tel: +44 (0) 20 7861 3232
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Klara Kaczmarek
Philip Dennis
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