- Jun 27, 2010
Mongolian Resource Corporation Limited (MUB) was formerly known as Alamar Resources Limited (ALG).
http://www.alamar.com.auThe directors of Alamar Resources Limited (ASX Code ALG, "Alamar", or the "Company") are pleased to announce the Company has settled the agreement to acquire 100% of MRCMGL LLC ("Mongolian Resource Company" or "MRC"). The Company raised $10,000,000 as part of this transaction. The directors of Alamar believe that the MRC business provides an attractive opportunity to complement the current assets and strategies of Alamar. To date, Alamar has entered into direct tenement acquisitions and joint ventures to explore for natural resources, namely Gold and other base metals such as Copper and Uranium. The proposed acquisition strategy of MRC is considered in line with Alamar current strategy.