News
Acquisition of minority interest
Following the announcement of the acquisition of a further fluorspar Mining Licence on 7 January 2010, the Company is pleased to announce that it has acquired the additional 49 per cent. of the issued share capital of Lotus Dai Uul LLC which they did not already own. The consideration for the acquisition was $100,000 payable in five instalments of $20,000 with the first payment made immediately and subsequent payments made in March, June, August and October. The acquisition results in Lotus Dai Uul LLC becoming a wholly owned subsidiary of Lotus Minerals Mongolia LLC.
In light of the recent positive progress made by the Company, as demonstrated by the acquisitions referred to above, the Company confirms that it is in discussions with its advisers regarding a possible move to the AIM Market of the London Stock Exchange. No guarantees can be made as to whether or not discussions will lead to such a move taking place. A further announcement will be made in due course.
Lotus Resources Plc
Simon Longworth, Chief Executive
Tel: +976 8800 8983 and +86 (0) 1350 107 0840
James Benson,
Finance Director
Tel: +44 (0) 7768 242 660
Rivington Street Corporate Finance
Eran Zucker
Tel: +44 (0)20 7562 3373
Lothbury Financial
Michael Padley / Ron Marshman
Tel: +44 (0)20 7011 9411