Posts Tagged ‘South American Iron & Steel’

ASX Company News: South American Iron & Steel To Develop Iron Sands Project

Monday, November 26th, 2012

South American Iron & Steel Corporation Limited (SAY) has signed an agreement with Prideful Asset Management Limited (PAM) to further progress the development of our Putú concessions.

Under the agreement, PAM will:

  1. Provide all necessary mining equipment including sand dredging equipment, dredging equipment, dry ore magnetic separator, sand crusher and sand washing equipment.
  2. Directly, or through a nominee, operate and mine iron sands for SAIS in the Putú concessions including production management, equipment maintenance, and technical support.
  3. Provide finance for all the costs and expenses in relation to the production of iron sands concentrates.
  4. Solely bear the cost of all plant, machinery and mining equipment.
  5. Share equally with SAIS the profits from the sale and production of iron sands concentrates.

Both parties will jointly develop the Putú concessions with a plan to produce two million tonnes of iron sands concentrates within two years; and five million tonnes of iron sands concentrates within four years from commencement of the signed agreement.

Preparations are underway to ship plant, machinery and mining equipment in 12 containers and they are expected to arrive in our Putú concessions in late January 2013.

www.saironsteel.com

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South American Iron & Steel Share Purchase Plan

Friday, July 31st, 2009

South American Iron & Steel  (SAY) announced on the 30/7/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date is the 7/8/2009 on which shareholders must own the share to participate in the SPP. The closing date is 25/8/2009.  Shares will be issued on 4/9/2009 and begin trading soon after.   A maximum of $15,000 can be purchased by each shareholder at $0.078.

Discount : 22.0% Liquidity : Poor Profitability : Ok Stability : Poor

www.saironsteel.com

* Note: Discount is based on the closing price on the 30 July 2009.

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