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ALBIDON LIMITED (ALB)

Delisted from ASX 14/06/2013

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Former (or subsequent) names

 

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Our website ranking of ALB: rating 4
(4 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Computershare, Level 2, 45 St Georges Terrace, Perth WA 6000
Tel : +61 8 9323 2000 or 1300 557 010
Fax : +61 8 9323 2033
RegistryWebsite RegistryEmail

Company details

Address: 12 Walker Street, WEST PERTH, WA, AUSTRALIA, 6005
Tel:  08 9211 4600 Fax: 08 9211 4699

Date first listed: 26/03/2004
Company Secretary: Noel McAuliffe
Sector: Materials Industry Group: XMJ
Activities: Acquire mineral exploration and development projects in Africa, with an emphasis on nickel
delisted following the completion of the Company's merger with Jin Tuo Investment Limited.14/06/2013
we understand Jin Tuo paid as consideration the sum of US$0.0025 per share - the Merger Consideration was paid in Australian dollars (AUD$0.002552) for Australian domiciled shareholders and in US dollars (USD) for all other shareholders14/06/2013
we understand that on or about this date the company undertook, proposed to undertake or was the subject of the following corporate action: - Jin Tuo Investment Limited proposes to acquire 100% of the Company - this corporate event may appear elsewhere in this company record16/05/2013
releases Chairman's Address to Shareholders15/05/2013
releases Annual Report to shareholders18/04/2013
a general meeting of shareholders of Albidon Limited ("the Company") is to be held on 15 May 2013 at 10.00am (WST). The meeting will be held at Suite 1501-1507, Alexandra House, 18 Chater Road, Central, Hong Kong - under the terms of a Merger Jinchuan NewCo will pay US$0.0025 per share ("Merger Considerationy") to all shareholders other than Jinchuan Group, the Company's largest shareholder which holds 49.93% of the issued capital of the Company. Following the Merger, the Company shares will no longer be listed on the Australian Securities Exchange ("ASX") whilst Jinchuan NewCo will be struck off the Register of Companies in the British Virgin Islands15/04/2013
The Company advises that the following unlisted options have not been exercised in accordance with their exercise conditions and therefore have automatically lapsed: ASX Code Number of Options Exercise Price Expiry Date ALB 10,000,000 $0.09 30 November 201231/01/2013
releases Quarterly Activities Report20/11/2012
there has been a subsidence event at the Munali mine site12/11/2012
provides a report of a material resource downgrade08/11/2012
company explains at long last why there are delays in determining the economic status of the Munali ore body 12/10/2012
company says it continues to seek to reach a transaction agreement20/02/2012
the Board of Albidon Limited ("Albidon")(ASX: ALB) today announced it is in discussions with a third party pertaining to a potential transaction with Albidon. On the basis of these discussions, Albidon has granted the third party exclusivity to facilitate the conduct of a due diligence process and, subject to a suitable agreement being reached, complete definitive documentation for the potential transaction. The details of the discussions and the identity of the third party are subject to normal confidentiality obligations at this time. There is no guarantee that the discussions will lead to a potential transaction22/12/2011
company provides an update on developments since its announcement of 10 th November that operations at the Munali nickel mine were being temporarily suspended - during the past week the Chairman of Albidon Limited, Zhang Sanlin and Acting Managing Director Harry Ou Wang visited Munali mine and met with government and community officials. The Chairman announced the formation of a Munali site Leadership Group comprising of managers from all departments at Munali. This Leadership Group will be led by Matthew Banda, Mining Manager, who will serve as its Executive Director. The Leadership Group replaces the Chinese management team previously on secondment from Jinchuan Group, all of whom are currently returning to China28/11/2011
Albidon Limited ("Albidon" or the "Company") (ASX: ALB) after consultation with the Zambian mining authorities and in accordance with the Mines Act, today announced it has approved the temporary suspension of operations at its Munali nickel mine in Zambia. With the decline of global nickel prices by approximately 23% over the past four months and the less-than-budgeted nickel recoveries at Munali, as previously announced by Albidon, the Company has experienced serious cash flow difficulties10/11/2011
company provides an update and an outlook that acknowledges that "significant challenges have emerged to the long-term viability of the company01/11/2011
company says it intends to reorganise and restructure existing finance facilities to reduce debt and align payments with revised life of mine plan03/10/2011
during investigations being conducted as part of the Riverstone-led strategic review, it has come to light that metallurgical recoveries reported in the June 2011 Quarterly Activity Report and preceding three Quarterly reports were incorrect - the actual metallurgical recovery results are materially lower than those disclosed - the overstatement of recoveries and metal production does not impact the cash flows previously reported to the market in the four previous Quarterly Reports as those results were based on actual amounts received in relation to provisional sales invoices09/09/2011
the securities of Albidon Limited (the "Company") will be suspended from quotation from the commencement of trading on Thursday, 1 September 2011, at the request of the Company, pending the release of an announcement31/08/2011
securities reinstated to quotation14/10/2010
the Deed of Company Arrangement ("DOCA") of Albidon has now been fully effected and the appointment of KPMG as Administrator has come to an end11/10/2010
we understand that on or about this date the company had a share issue - we estimated the dilutionary impact at 10 cents a share11/10/2010
expects to recommence trading on ASX on Thursday 14 October subject to final approval by ASX and completion of the Deed of Company Arrangement ("DOCA"). This date has been set two days subsequent to the Company's 2010 AGM to ensure any issues raised at the AGM can be addressed prior to recommencement of trading24/09/2010
the Annual General Meeting of the Shareholders of Albidon Limited ("Company") will be convened at Perth Convention Exhibition Centre, Room 9, 21 Mounts Bay Road, Perth, Western Australia on Tuesday, 12 October 2010 commencing at 2.00pm WST22/09/2010
releases various financial reports22/09/2010
appointment of KPMG, as joint and several Administrators of Albidon continued during the quarter - The auditors at Ernst & Young are continuing to work on the audit of the Company's financial reports and the Company will seek relisting on the ASX as soon as audit and other listing requirements are completed08/09/2010
releases Quarterly Activities Report01/02/2010
African Energy has been exploring mineral tenements in Zambia that are subject to an exploration cooperation agreement with Albidon (ASX:ALB). Under the terms of this agreement, African Energy may earn a 30% interest in the project by sole funding at least AUD $1.0 million exploration and an additional 40% interest (totalling 70%) may be earned through the sole funding of a Prefeasibility Study on a JORC compliant Indicated Resource identified within the project. African Energy has recently completed its initial AUD $1.0m sole funding milestone in respect of the Kariba Valley JV Project, and has thereby earned an initial 30% Joint Venture interest.09/12/2009
Assay results for the recently completed reverse circulation drill programme at the Njame South uranium deposit have been received25/11/2009
an initial Inferred Resource estimate has been completed for the Njame South deposit within the Chirundu Joint Venture, Zambia18/11/2009
releases various Quarterly Activities and Cashflow Reports11/11/2009
in respect of the transaction to restructure and recapitalise the Albidon group - company confirms that on 4 November 2009, settlement of the Transaction took place - control of the company and its operations revert to the company's board of directors09/11/2009
infill soil sampling has been completed at the Namakande prospect, located in the Kariba Valley Joint Venture. The sampling has confirmed a further three significant uranium anomalies, Target Areas D, E and F, which increase the cumulative strike length at Namakande to in excess of 20km04/11/2009
directors of African Energy Resources Limited announce that a programme of reverse circulation (RC) percussion drilling has been completed at the Njame South prospect, located within the Chirundu Joint Venture project in southern Zambia20/10/2009
a Large Scale Mining Licence for the development of the Chirundu Joint Venture Uranium Project has been approved by the Zambian Ministry of Mines and Minerals Development15/10/2009
Infill soil sampling has confirmed three significant uranium anomalies within the Namakande prospect, located in the Kariba Valley Joint Venture30/09/2009
company advises of unforeseen delays in meeting DOCA conditions11/09/2009
creditors voted unanimously to approve the Deed of Company Arrangement ("DOCA") proposal of Jinchuan Group Limited18/06/2009
announce the appointment of Messrs Mel Ashton and Damian Templeton, Chartered Accountants, of KPMG, as joint and several Administrators of Albidon23/04/2009
securities suspended from quotation pending an announcement26/03/2009
securities reinstated to quotation26/11/2008
securities suspended from quotation pending an announcement21/11/2008

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    Directors' on-market share transactions (last 5)

     

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    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Sanlin ZhangNon Exec Chairman31/08/2010
    Noel McAuliffeCFO
    Yimin ZhangExecutive Director09/09/2009

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Harold WangManaging Director14/07/2012

    Date of first appointment, title may have changed.