CWH Resources Ltd (
Yunnan Lead and Zing Mine
On 27 July 2010, CWH Resources Ltd announced that it entered into a contract to purchase a lead and zinc mining company called "Yunnan Lanping Jinding Lead and Zinc Mining Company", situated in Yunnan, China.
This contract has been terminated as the due diligent study has indicated that the risk of operating this mine is very high. CWH Resources Ltd is not liable for any further costs in relation to the cancellation of this contract.
Charters Towers Gold Mines
On 3 March 2011, CWH Resources Ltd made an announcement to advise the market that options to acquire mining leases (ML10124 & ML10125) located approximately 27km south of Charters Towers in Queensland expired on 28 February 2011.
After analyzing the due diligence report for these two mining leases, CWH Resources Ltd decided not to proceed further with these mines purchase. An option fee of 5,000 was paid to the owner of these mines when the contract was signed on 6 December, 2010.
About CWH Resources Limited
CWH Resources Limited (ASX:CWH) is regarded to be the first company with an operational base in Western China to be successfully listed on ASX. Its operational base and offices undertakes production, marketing, R&D and strategic investments in building materials, mining, construction and other allied industries. It has developed a respected quality and market position for its products.
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