Rusina Mining
Rusina Mining (ASX: RML) is an active mining exploration company that is focused on the emerging Philippine mining sector. The Company has defined a JORC compliant resource estimate for nickel laterites at its Acoje tenement on the island of Luzon.
The Acoje property also hosts chromite, nickel sulphides and platinum group metals.
Rusina Mining updates European Nickel merger timetable
Tuesday, April 27, 2010
Rusina Mining (AIM: RMLA, ASX: RML) and European Nickel PLC (AIM/PLUS: ENK) have updated the timetable for the proposed merger of the companies by way of a Scheme of Arrangement in Rusina.
The timetable has been extended due to an unavailability of court dates. The following timetable is indicative only and may be subject to change.
Last day for trading in Rusina shares on ASX and AIM after close of business of the respective exchanges
Scheme becomes binding (Effective Date) - 10 June 2010.
Merger Implementation Date, Scheme Consideration issued to Scheme Participants - 21 June 2010.
European Nickel CDIs commence trading on ASX (subject to ASX approval) and New Shares commence trading on AIM (subject to AIM approval) - 24 June 2010.
The rationale for the merger is to create a larger, stronger company that will be better able to finance its development projects and grow into a mid-tier nickel producer.
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