Did you know?
You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)
Came across this snippet of information
Oct 08, 2009 03:36PM
About Tiomin Resources Inc.
Tiomin is enhancing shareholder value by the acquisition, exploration and development of industrial mineral, precious and base metal projects. Jinchuan Group Limited ('Jinchuan'), one of China's largest mining companies, owns approximately 18.7% of Tiomin.
Tiomin has four main assets:
1) approximately $17.3 million of working capital (after the Feb. 20th Kivu Gold Corp. investment);
2) 49% interest in the Pukaqaqa copper and gold project in Peru;
3) 100% interest in the Kwale titanium project in Kenya; and
4) 33.5% interest in Kivu Gold Corporation, a mineral exploration focused on sub-Saharan Africa.
Tiomin's share price currently only reflects the value of its working capital position and it receives no value for its other assets in Peru or Kenya. Tiomin has an outstanding memorandum of understanding with Jinchuan whereby Jinchuan would acquire 70% of Tiomin Kenya Limited ('TKL') a wholly owned subsidiary of Tiomin that owns 100% of the Kwale titanium project, for US$25 million invested into TKL and a commitment to finance and build the project, 70%.