TEAL Exploration & Mining Incorporated which listed on the Toronto Stock Exchange on November 15, 2005 following its initial public offering that raised US$31.3 million (net of expenses), today released its interim financial results for the three month period ended September 30, 2005.
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Assore today announced its firm intention to make an offer to all Assmang shareholders other than Assore and ARM.
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ARM today announced that TEAL Exploration & Mining Incorporated has filed a final prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with TEAL’s initial public offering of 17.8 million common shares at a price of C$2.25 per share.
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ARM has announced that a preliminary prospectus has been filed with the Ontario Securities Commission (Canada) for the initial public offering of its development and exploration assets in Namibia, Zambia and the Democratic Republic of Congo.
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The group results to June 2005 have been positively impacted by a strong performance from its ferrous metals and nickel divisions owing to increased volumes and high commodity prices as well as a considerably weaker exchange rate during May and June 2005.
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Assmang today announced its results for the financial year ended 30 June2005. Assmang is jointly controlled by ARM and Assore Limited.
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Shareholders are referred to the trading update dated 20 May 2005 whereby shareholders were notified that headline and attributable earnings for the financial year to 30 June 2005 were anticipated to be between R197,00 and R240,00 per share.
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Shareholders are advised that as a result of adverse ferrochrome market conditions the Company will be temporary shutting down three of its ferrochrome furnaces, at its Machadodorp works, for a period of 1 month commencing on 25 July 2005.
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ARM and Implats today announced that the companies will proceed with the 220 000 oz per year platinum group metals (PGM) project, Two Rivers Platinum on the Eastern Limb of the Bushveld Complex.
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ARM announced on 2 February 2005, a transaction valued at US$48.5 million in which LionOre Mining International (LionOre) would partner ARM in a 50:50 joint venture at Nkomati Mine.
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In compliance with paragraphs 3.63 – 3.66 of the Listings Requirements of the JSE Securities Exchange South Africa, we hereby advise the following dealings by a director in ARM securities.
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The group results to June 2005 have been positively impacted by a strong performance from its ferrous metals and nickel divisions owing to increased volumes and high commodity prices.
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ARM today announced the appointment of (the former president of Mozambique) Mr. Joaquim Chissano as a nonexecutive director to the companies Board of Directors.
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ARM today announced the appointment of Mr. Jan Steenkamp to the company’s Board of Directors. Mr. Steenkamp’s appointment as a director of ARM is effective 19 April 2005 and he will continue to serve as Chief Executive of ARM Ferrous.
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Spoornet and Assmang, the iron ore miner and exporter in the Northern Cape, have concluded negotiations regarding export capacity on the Orex rail line to Saldanha Bay, and announce jointly that the company’s iron ore export allocation is to increase substantially by 2009/10.
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ARM today announced the appointment of Mr. Mangisi Gule as Chief Executive for ARMplatinum, effective March 1st 2005.
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Assmang Limited, the manganese ore, manganese alloy, iron ore, chrome ore and alloy producer that is jointly controlled by ARM and Assore today announced a significant increase in attributable earnings for the half-year ended 31 December 2004.
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ARM results have been positively impacted by strong performances from its ferrous metals and nickel divisions: owing to increased volumes and high commodity prices for, primarily, manganese; and better nickel prices.
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ARM is pleased to announce the formation of a 50:50 unincorporated joint venture with LionOre Mining International Limited at ARM’s Nkomati nickel mine in a transaction valued at US$48.5 million (approximately ZAR290 million).
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Jongisa Klaas
Head of Investor Relations and Corporate Development
Tel: +27 (0) 11 779 1300
E-mail: jongisa.klaas@arm.co.za
Corné Dippenaar
Corporate Development
Tel: +27 (0) 11 779 1300
E-mail: corne.dippenaar@arm.co.za
Ursula Anyamene
Investor Relations and Corporate Affairs Assistant
Tel: +27 (0) 11 779 1300
E-mail: ursula.anyamene@arm.co.za
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