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Panzhihua vanadium and titanium hosted seen as the catalyst for the market Angang small iron ore business issue eventually settled. Yesterday evening, Panzhihua vanadium and titanium issued a bulletin, Anshan Iron men the Angang overall mining company Panzhihua Steel Vanadium and Titanium hosted by the trustees as a relying party. Rest Panzhihua V-Ti capital increase of more than 2.1 billion yuan to support the two companies replenishment of the Carrara mining company to a subsidiary of Hong Kong and Australia.
Custodian for the time being planning accompanying cooperation Flying Cutoff

Yet to spend time heavily bribed iron mine

The whole Anshan Iron and Steel Company and Panzhihua Iron and Steel overall Co., Ltd. in 2010, implementation of the the dismantled restructuring. Last year, Panzhihua vanadium and titanium has been built into the to include Angang overall saddle thousands of mining,, Angang personal holding company and the Anshan Iron and Steel Group Investments (Australia) Co., Ltd. 100% equity capital to build. Nothing more than men by the Anshan Iron and Steel Group, Anshan Iron and Steel Mining also mixed in the iron ore mining business as usual has not necessarily peer collaboration between modeled and Panzhihua Steel Vanadium and Titanium.

Yesterday evening, Panzhihua vanadium and titanium announcement the two sides of the escrow agreement, the Angang overall as sustenance square subordinates company Anshan Iron and Steel Group Mining Company by the trustees Panzhihua Iron and vanadium and titanium development hosting.

But this is only peer mutual aid and self Organising the title.

While Angang overall promise in the premise of existing iron ore chosen business affordable listing premise and relevant dominate the guilty police compliance, five years after the restructuring to achieve injected Panzhihua vanadium and titanium, Besides this, Qidashan, iron ore, with Qidashan The concentrator foundation have injected conditions. But the most juncture funds issues not be implemented.

Panzhihua vanadium and titanium order to bribe Qidashan Iron ore Qidashan concentrator, quasi-outrageously issue does not cross 17 million shares to raise funds not surpass 12 billion yuan of the total. Panzhihua V-Ti's about as the iron ore Qidashan and Qidashan Concentrator funding to build the price to $ 178 billion, Panzhihua vanadium and titanium show that if the non-public issue by recruiting funds can not meet the response indicators capital requirements, the company will take advantage of the self-financing planning is insufficient for a small piece.

Panzhihua vanadium and titanium huge nonpublic pioneering line of 12 billion yuan, in addition to lost the approval of the general meeting of shareholders of the Company needed to obtain the permission of the SASAC, the China Securities Regulatory Commission and other government departments.

Over 21 billion capital increase Carrara

Required to bank deposits

17.8 billion bribe shall no whereabouts, Panzhihua vanadium and titanium face to the avatar-owned subsidiary of replenishment of topics.

Anshan Iron and Steel small private company owned production replacement, Anshan Iron and saddle O has become a wholly owned subsidiary of the Company. The Angang Hong Kong Gindalbie's largest shareholder.

Saddle Australia Gindalbie holds a 50% stake of Carrara mining companies. Carrara iron ore project construction is critical, saddle Australia's Gindalbie plans $ 600 million capital increase stake Carrara mining companies. To this end, the need to saddle Australia A $ 300 million capital increase to the mining companies of Carrara.

In order to raise the capital contribution of the the Carrara mining company Gindalbie plans to raise $ 209 million rights issue another way. Anshan Iron and Steel Company in Hong Kong is to maintain its stake in Gindalbie is concentrated and smooth implementation of protection of construction of Carrara iron ore project the Angang need Intervention Gindalbie allotment.

Panzhihua vanadium and titanium in the research submission are mentioned if Carrara project ran aground lower than expected, will be a micro risk, so, Panzhihua vanadium and titanium on the replenishment of the two subsidiaries is imperative .

According to the announcement, the company needs the capital increase to the Anshan Iron and saddle O calculated 34,493 million Australian dollars, equivalent to approximately 218,948 million public currency. Panzhihua vanadium and titanium surface, the company's own funds invested 13,493 million Australian dollars, and the remaining 21,000 million Australian dollars require foreign bank lending attempt.

Of course, the benefits of these ore production capital injection to Panzhihua vanadium and titanium not yet appeared significantly Panzhihua vanadium and titanium real money "payment" is in the heads. Huge amounts of money, "bleeding", so that this company had just been out of the surplus plight, even more weak. Investors could not help worry for the its tight funding level attack.

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