Cove Resources will not complete the acquisition of Kalvinit
The Share Purchase Agreement between Cove Resources Ltd (“Cove”) and Endomines AB (“Endomines”) considering the purchase of Kalvinit Oy (“Kalvinit”) has been terminated.
During the agreement period, from July 2012, Cove has undertaken Feasibility Studies toward development which have been provided to Endomines under the terms of the agreement.
Endomines will immediately start the search for a new partner in order to continue developing the project. Meanwhile Kalvinit will continue to develop the deposit and is proceeding with the mining concession application in cooperation with local landowners.
The Kalvinit titanium project is a significant ilmenite resource and advanced mining project located within the European Union. Once developed Kalvinit would be positioned as a major supplier of titanium pigment feedstock into European markets.
The official Stock Exchange Release is given in Swedish and there may be slight differences in the translated versions.
For further information, please contact:
Staffan Simberg
Chairman of the Board of Endomines AB
tel. + 358 500 209 216 or visit the Company´s website www.endomines.com
About Endomines AB
Endomines AB is a Nordic mining and exploration company with its first operating gold mine in production since February 2011. The mine is located in Eastern Finland, on the Karelian Gold Line, a 40 km long gold critical belt, where Endomines controls all currently known gold deposits.
The company’s business practices and mining operations are based on sustainable principles and on minimizing the impact on the environment.
Endomines applies SveMin's & FinnMin's respective rules for reporting (public mining & exploration companies). It has chosen to report mineral resources and ore reserves according to the JORC-code, which is the internationally accepted Australasian code for reporting ore reserves and mineral resources.
The shares of Endomines AB are quoted on NASDAQ OMX Stockholm under ticker ENDO and on NASDAQ OMX Helsinki under ticker ENDOM. Pareto Öhman acts as Liquidity Provider.
Endomines AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 08:45 CET on November 18th, 2013.
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