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Notice of Results 2018 AGM
30-Nov-2018

30 November 2018 Creat Resources Holdings Limited ("CRHL" or "the Company") Result of Annual General Meeting Creat Resources Hold..

Notice of AGM and Posting of Proxies
23-Oct-2018

Creat Resources Holdings Limited (ACN 089 093 943) NOTICE OF ANNUAL GENERAL MEETING, EXPLANATORY STATEMENT ..

Notice of AGM and posting of Annual Report 2017
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Creat Resources Holdings Limited ("CRHL" or "the Company") Notice of General Meeting and Posting of Annual Report Creat Re..

Major Asset Sale - Galaxy Shares December 2012 20-Dec-2012


Announcement of Major Asset Sale

 

 

 20 December 2012

Creat Resources Holdings Limited

("CRHL" or "the Company")

Major Asset Sale

 

Further to the announcement made by the Company on 16 November 2012, CRHL announces that on the 20th December 2012, the Company disposed of a further 250,000 shares of Galaxy Resources Limited (“Galaxy”), at AUD$0.395 per share (the “Disposal”).

 

The Company has to date invested in the shares of Galaxy as a long term strategic investment. Prior to the Disposal, the Company held 37,834,912 shares in Galaxy representing 6.75 percent of Galaxy’s issued share capital.

 

Following the Disposal, the Company will hold 37,584,912 shares in Galaxy representing 6.707 percent of Galaxy’s issued share capital.

 

 

Reasons for the Disposal

 

On 16 November 2012, the Company announced that it would dispose of 1,000,000  Galaxy shares as part of a short term funding initiative. This sale of 250,000 shares represents the second parcel of shares to be sold to enable the Company to continue its operations through the first quarter of 2013 until completion of its mining tenement sale (“Mining Asset Sale”) which was announced on 17 October 2012.

 

The Board points out that:

  1. The Company’s investment strategy regarding Galaxy as a long term investment remains unchanged;
  2. The Disposal only represents a small portion of the Company’s holding in Galaxy;
  3. The proceeds from the Disposal are expected to be received via normal share trading settlement channels and will be used as working capital;
  4. No further disposal of Galaxy shares will occur this year.

 

The Company is also pleased to confirm that Exchange in respect of the Mining Asset Sale has taken place and that completion in respect of the sale is still expected in Q1 2013.

 

For further information please visit www.creatresources.com or contact:

Creat Resources Holdings Limited

 

Tel: +61 3 6471 6228     

Morris R. Hansen, Company Secretary

 

 

 

 

 

Daniel Stewart & Company

Paul Shackleton

 

Tel: +44 20 77766550     

Emma Earl

 

 

 

About Creat Resources Holdings Limited

CRHL is an early stage mining exploration company holding 4 Exploration Licences and 3 Retention Licences covering 109 square kilometres around the mineral rich Zeehan area in western Tasmania. CRHL also has a strategy of acquiring assets in interesting resources companies that complement or supplement the Company's exploration activities. CRHL is a major shareholder of Galaxy Resources Limited ("Galaxy"). Galaxy is an Australian-based integrated lithium mining, chemicals and battery company listed on the Australian Securities Exchange (Code: GXY) and is an S&P/ASX 300 Index Company. Galaxy plans to be one of the world's largest lithium carbonate producers and is positioning itself to be involved in every step of the lithium supply chain.

 

About Galaxy Resources Limited

Galaxy Resources Limited ("Galaxy") is a Western Australian S&P / ASX 300 Index company which plans to become one of the world's leading producers of lithium compounds - the essential component for powering the world's fast expanding fleet of hybrid and electric cars. Galaxy's Mt Cattlin mine aims to be the world's second largest producer of lithium mineral concentrate globally, and through the development of its 17,000 tpa lithium carbonate plant in Jiangsu province, Galaxy expects to be one of the largest and lowest cost lithium compound producers in China. Lithium compounds such as lithium carbonate are forecast to be in short supply against high future demand due to advances in long life batteries and sophisticated electronics including mobile phones and computers. Galaxy has positioned itself to meet this lithium future by not only mining the lithium, but also by downstream processing to supply lithium carbonate to the expanding Asian market.