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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	AFA
Latest Price:	0.16 (0.00%)
52-week High:	0.16
52-week Low:	0.09
Market Cap:	47.86M

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ASF Group

ASF Group (ASX: AFA), through its wholly owned subsidiary, ASF Resources Pty Ltd (ASFR), has assembled mineral exploration projects in Australia. ASFR's strategy is to build a portfolio of quality exploration, energy and mining projects and enter partnering and co-investing arrangements with major Chinese mining groups. The Company has established relationships with a number of major mining groups in China that are interested to invest in Australia's energy & resources sector.

ASF Group raises A$5 million in placement

Monday, February 08, 2010

ASF Group Limited has placed 40 million fully paid ordinary shares in the company to Suntimes International Limited raising $5,088,000.00 at $0.1272 per share.

Funds will be used to develop ASF's coal trading business and for working capital.

Suntimes will become a major shareholder in ASF, with a 12.97% interest in the issued share capital of the Company.

Xin Zhang has been appointed as a director of ASF. Xin Zhang is sole shareholder and director of Suntimes, and was also a founder and controlling shareholder of China Glory International Investment Group (CGIG). CGIG's investments are in real estate development where it has developed many billions of dollars of properties in China.

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