Namibian Phosphate Project Update
06 Janeiro 2009 - 8:03AM
UK Regulatory
6 January 2009
Union Resources
Namibian Phosphate Project Update - Initial Resource Estimate
As previously announced, Union Resources Limited ("Union"), Bonaparte Diamond
Mines NL ("Bonaparte") and Namibian company Tungeni Investments cc ("Tungeni")
have entered into a joint venture ("the Joint Venture") to develop their
respective Sandpiper and Meob marine phosphate projects off the coast of
Namibia. Under the Joint Venture, licences held by Union in its Sandpiper
project and those held by Bonaparte / Tungeni in their Meob and Rocky Point
Projects will be transferred to a Joint Venture company to be held 42.5% each
by BON and Union and 15% by Tungeni. The Meob project holds licences adjacent
to Union's Sandpiper project.
An announcement was released to ASX by Bonaparte yesterday which gives details
of an initial resource estimate in respect of the Meob Project which, as
mentioned above, forms part of the Joint Venture.
Please copy and paste the below link into your browser to see the Bonaparte
announcement released to the ASX today.
http://www.unionresources.com.au/UCL/extdocs/
Bonapartes_Resource_Announcment.pdf
Enquires to:
Australia: Union Resources Limited
Dr Frank Reid - Managing Director
Phone: +61 7 3833 3833
London: Hanson Westhouse Limited
Bill Staple or Martin Davison
0207 7601 6100
Bankside Consultants
Simon Rothschild / Louise Mason
0207 367 8888
_______________________________________________________________________________________________________
Email: info@unionresorces.com.au Internet: www.unionresources.com.au
END
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