NEWCREST GIVES NOTICE TO WITHDRAW FROM THE MANUS ISLAND JOINT VENTURE

NEWCREST GIVES NOTICE TO WITHDRAW FROM THE MANUS ISLAND JOINT VENTURE

 

Newcrest has notified the Company of its decision to withdraw from the Manus Island joint venture, with effect from 16th July 2014.

The effects of this decision, the transfer of the tenements, and the mechanics of the closure will be discussed at the joint venture meeting to be held on 31st July 2014.

The Company will, over the coming weeks, consider what options, if any, exist for these tenements. Due to the considerable uncertainty, the Board intends to provide against the £500,000 carrying value of its investment in this joint venture in its accounts to 31st March 2014.

 

For further information, please contact:

Aurasian Minerals Plc

Christopher Goss                                                                        +44 (0) 7920 060514

finnCap Limited

Matthew Robinson/Christopher Raggett                              +44 (0) 20 7220 0500