ANVIL MINING LTD 
By
The Offeror has now extended the expiry time of the Offer,
from 8:00 pm (Toronto time) on January 11, 2012, to 8:00 p.m.
(Toronto time) on February 16, 2012, unless the Offer is
further extended or withdrawn. By virtue of this extension,
the "CDI Expiry Time" as defined in the Offer and Offer
documents, has been automatically extended to 7:00 p.m.
(Sydney time) on February 14, 2012, unless the Offer is
further extended or withdrawn.
Since the initial announcement of the takeover bid on
September 29, 2011, Anvil and MMR have been consulting with
various stakeholders in the Democratic Republic of Congo
("DRC"). As announced on October 31, 2011, during
consultations with La Générale des Carrières et des Mines
Sarl ("Gécamines"), Anvil and MMR were advised that if the
takeover is completed without Gécamines' prior approval,
Anvil's local DRC subsidiaries would be in breach of the
terms of the lease of the mineral tenure for the Kinsevere
Project and the terms of the joint venture agreement in
respect of the Mutoshi Project. There can be no assurance
that the parties will reach agreement on the terms of revised
commercial arrangements with Gécamines. The approval of MMR
would be required in order for Anvil to implement revised
arrangements with Gécamines.
The Kinsevere Project is held as to 95% by a wholly-owned
Congolese subsidiary of Anvil, which in turn holds a lease
from Gécamines of the underlying mineral tenures. The
remaining 5% interest in the Kinsevere Project is held by a
private Congolese company, Mining Company Katanga SPRL
("MCK"). During the course of the ongoing discussions with
Gécamines, Anvil and MMR have been advised by MCK that its
prior approval of the takeover bid is required. MCK has also
made allegations to the effect that its rights under the
shareholders' agreement governing the Kinsevere Project have
not been respected by Anvil.
Anvil's position is that there is no legal requirement for
the approval of either Gécamines' or
MCK under any of its contractual documentation with either
entity in connection with the
proposed change of control and that Anvil has fully complied
with its contractual obligations. As previously disclosed,
there will be a requirement to give Gécamines a right of
pre-emption in connection with the Mutoshi Project, which MMR
and Anvil are fully aware of and intend to comply with. MMR
and Anvil have previously agreed that Anvil's 70% interest in
the Mutoshi Project has a value of US$52.5 million.
Discussions with each of Gécamines and MCK by Anvil and its
advisors and with MMR are ongoing. There can be no assurance
that the parties will reach agreement on revised commercial
arrangements with Gécamines or any agreement with MCK
relating to its demands and allegations, in both cases on
terms satisfactory to MMR. Consequently, there can be no
assurance that MMR will consummate the Offer.
The Offeror has retained Kingsdale Shareholder Services Inc.
("Kingsdale") as information agent to respond to inquiries
from Anvil shareholders regarding the Offer. Kingsdale may be
contacted toll-free at 1-866-581-1392 or collect from outside
North America at +1-416-867-
2272. The Depositary for the Offer is Computershare Investor
Services Inc. Inquiries should be directed to 1-800564-6253
or corporateactions@computershare.com.
This news release is for information purposes only and is not
a substitute for the filed Offer and takeover bid circular
and Anvil directors' circular. There can be no assurance that
the conditions of the Offer will be satisfied, or that the
transaction will be completed as proposed, or at all.
Anvil Mining Limited is a copper producer whose shares are
traded on the Toronto Stock Exchange (as Common Shares) and
the Australian Securities Exchange (as CDIs) under the symbol
AVM.
President & CEO Vice President Corporate Affairs
Tel: +27 (11) 750 6876 Tel: (Office) +1 (514) 448 6664,
(Cell) +1 (514) 944 9036
Email: darryllc@anvilmining.comEmail: robertl@anvilmining.com
(Johannesburg) (Montréal)
This news release contains "forward-looking statements" and "forward-looking information", based on assumptions and judgments of management regarding future events and results. Such "forward-looking statements" and "forward- looking information which may include, but is not limited to, the completion of the Offer (as defined). Many of these assumptions are based on factors and events that are not within the control of Anvil and there is no assurance they will prove to be correct. Often, but not always, forward-looking information can be identified by the use of words such as "intends" (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "would", or "will" be taken, occur or be achieved. The purpose of forward-looking information is to provide the reader with information about management's expectations regarding the Offer. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Anvil to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. There can be no assurance that the Offer will be completed. There can be no assurance that forward-looking information will prove to be accurate. Accordingly, readers should not place undue reliance on forward looking information.
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| distribué par | Ce noodl a été diffusé par Anvil Mining Limited et initialement mise en ligne sur le site http://www.anvil.com.au. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-09 21:02:11 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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