China to clarify "Australian tail"

Today, China Metallurgical (601608, closing price of 4.00 yuan) issued a notice clarifying the issue of the tail section mentioned by Lambert Kok Resources Limited (hereinafter referred to as the Lambert). September 8, 2010, Lambert Kok Company issued a notice in the Australian stock Exchange entitled "A legal action by Lambert Kok to recover the 80 million Australian dollar," the announcement said: China Metallurgical failed to comply with the agreement on the transfer of leases and related assets signed on December 9, 2009　　(hereinafter referred to as "successor Agreement") in the provisions of the payment of the end of the 80 million Australian dollar, Lambert Kok Company intends to take such matters to China metallurgical legal action. China Metallurgical has made the following remarks on the related overdue payments mentioned in the above announcement. June 2008, the company in Australia, a subsidiary of the Western Australia Mining Co., Ltd. (hereinafter referred to as Sino-Western Australia) and Lambert Kok and Mtanketellptyltd (hereinafter referred to as the CFE Company) signed the agreement on lease and related assets Transfer (hereinafter referred to as the agreement),　　Agreed to the Western Australian to CFE Company to buy Western Australia Lambert corner of the relevant mining lease. Thereafter, under a separate successor agreement, Sino-Western Australia will transfer the mining lease, related assets and the rights and obligations of both parties under the agreement to another subsidiary of China Metallurgical Australia Holdings Limited (hereinafter referred to as the three gold).　　Under the agreement, the CFE Company will be eligible to meet its obligations under the agreement under the premise of the three gold to pay 80 million Australian dollars of the end. However, in the three gold, the announcement date, CFE company actually did not comply with the agreement to complete the relevant provisions of the obligations. The company and the three gold companies will deal with the dispute in accordance with the dispute resolution procedure stipulated in the Agreement.　　The time to settle the dispute is still unknown. In addition, China Metallurgical also announced that the Association of Chinese Interbank Market dealers agreed to accept the company's 2010-2012-year medium-term bills and short-term financing vouchers, the registered amount of 14.9 billion yuan, 14.4 billion yuan respectively.