New Zealand’s resource sector investor Aorere Resources Ltd (NZX: AOR) said one of its prime investments, Asian Mineral Resources Ltd (TSX-V: ASN) has sold its Vietnam assets and has executed an option agreement.
Asian Mineral Resources is Aorere’s second largest investment – representing 31.7% of Aorere’s total assets.
Asian Mineral held its annual meeting in Canada this month and informed shareholders in selling its 90% interest in the mothballed Ban Phuc nickel mine in Vietnam.
There was also a share consolidation approved by shareholders.
In Asian Mineral’s election, re-elected were Chris Castle (also managing director of Aorere), Duncan Blount, and well-known Australian stockbroker and fund manager Robin Widdup.
ASN entered an option agreement with Island Time Exploration Ltd to acquire up to 75% interest in four mineral titles east of Duncan in the Victoria Mining Division where primary targets were volcanogenic, polymetallic massive sulphides.