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Malaga Inc MLGAF

Metals & Mining Industrial Metals & Minerals
Malaga Inc. is a mining company. The company, through its subsidiaries operates tungsten mine and gold plant with mining and exploration activities focused in Peru. The operations, exploration and development activities on the Pasto Bueno Property are located in the Ancash Department, Central Peru. The company also owns and operates in a hydroelectric asset. The company owns 100% of the property, including all surface rights. The company processes the ore from its own mine.


GREY:MLGAF - Post by User

Malaga Inc
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Post by Nick777on Mar 19, 2013 7:25am
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Post# 21148830

BAD NEWS

BAD NEWS

 

Malaga looks for suitor

2013-03-19 07:16 ET - News Release

 

Mr. Pierre Monet reports

MALAGA PROVIDES UPDATE

Malaga Inc. is examining all possible alternatives to obtain financing or conclude a transaction with a strategic investor that could result in a merger or sale of a portion or all of its assets. Malaga is currently evaluating a formal offer to sell certain assets. The corporation has sold and monetized a portion of its copper byproduct that was stored on site, and expects to sell the balance in the coming months.

In addition, Malaga is currently not capable of discharging all of its financial obligations as they become due. The mine and plant at Pasto Bueno are still on care and maintenance. The corporation is putting in place additional measures to further reduce costs.

Lastly, Malaga also announces the resignation of Anne-Marie Sheahan from the board of directors.

We seek Safe Harbor.

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