The General Director of JSC Atomredmetzoloto Mr. Vadim Zhivov gave an interview to Interfax. Talking to Interfax's correspondent Julia Gileva Mr. Zhivov focused on ARMZ Uranium Holding's strategy in Mongolia.
On February 19, 2010 Mining Journal, a reputable British mining industry journal, published an article by JSC Atomredmetzoloto's Deputy General Director Alexander Boytsov, Head of the Analytical Department Vladimir Basov and Chief Specialist of the Analytical Department Natalia Putivtseva.
TORONTO, February 1, 2010 - JSC Atomredmetzoloto (“ARMZ”) today announced that it has extended its offer (the “Offer”) to acquire all of the issued and outstanding common shares of Khan Resources Inc. (“Khan”) (TSX: KRI) for all-cash consideration of C$0.65 per common share of Khan (each, a “Khan Share”) to 5:00 p.m. (Toronto time) on March 1, 2010, unless extended or withdrawn. Previously the Offer was set to expire at 5:00 p.m. (Toronto time) on February 1, 2010.
ARMZ has received notice that the Investment Review Division of Industry Canada did not complete its consideration of ARMZ’s application in connection with its proposed acquisition of Khan within the initial 45 day period stipulated under the Investment Canada Act (“ICA”), which expired on January 18, 2010. The notice indicated that Industry Canada expects to complete its review by February 17, 2010, or within such further period as may be mutually agreed between ARMZ and Industry Canada. At the current time, ARMZ has not received notification of approval under the ICA.
Prime Minister Vladimir Putin of the Russian Federation signed an order (#1998-R) dated December 19, 2009 authorizing a budgetary subsidy in the amount of RUR14.2 billion to Rosatom State Corporation for the purpose of purchasing ARMZ Uranium Holding Co.’s stock.
The Foreign Investment Review Board today approved the transaction whereby ARMZ Uranium Holding Co. exchanged its 50% interest in the Karatau Uranium Mine in Kazakhstan for an interest in the Canadian uranium miner Uranium One Inc.