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Latest News

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
28-Sep-2017

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

Partial Retirement of Debt 23-Apr-2013

Announcement of Partial Retirement of Debt

 

 

17 April 2013

Creat Resources Holdings Limited

("CRHL" or "the Company")

 

Reference is made to our Announcement dated 17 October 2012 and Circular to Shareholders dated 23 October 2012, whereby the Company announced that, together with its relevant subsidiary, it has entered into a conditional agreement (the "Agreement") with Australian Hualong Pty Limited to dispose of all the existing mining assets and that a portion of the funds raised would be used to reduce debt as required.

 

Creat Resources Holdings Limited is pleased to announce that on 16 April 2013, the Company negotiated a partial repayment of outstanding debt to its major creditor, Creat Group.  The total amount of debt to be repaid is AUD$5,000,000.  The funds, by agreement with Creat Group, are to be applied as principal only and in the order of priority:

·    Highest interest loans first;

·    Longest overdue loans second;

to a maximum of AUD$5,000,000.

 

Creat Group has also agreed to a quarantine of interest as at the date of repatriation of funds on those loans repaid with no further accumulation of interest until such time as the company is able to repay the interest component.

 

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     

James Thomas


 

About Creat Resources Holdings Limited

CRHL is a mineral exploration and mining investing company which currently holds an investment as a major shareholder of Galaxy Resources Limited ("Galaxy") with an interest of 6.43%. 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.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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