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Cambodian Ventures Limited ( Pink Sheets: CMBV.PK - http://finance.yahoo.com/q?s=CMBV.PK ) Cambodian Ventures Limited is pleased to announce that the Company is making significant progress towards signing a definitive joint venture agreement with TTY Corporation of Cambodia to develop two gold mining properties in Kratie Province, Kingdom of Cambodia.
Mr. Gary J. Fineberg, President of Cambodian Ventures, accompanied by Mr. Trevor Burns, President of Tiger Capital, recently met with the President of TTY Corporation to discuss the next steps to be taken to develop TTY's gold properties. Mr. Fineberg and Mr. Burns also had the opportunity to tour TTY's facilities and operations and tour the mining sites.
"I am very pleased with the way discussions are proceeding with TTY. Both parties are keen to move forward as rapidly as possible. We are presently making arrangements to have a geologist come to Cambodia to prepare a feasibility report on both sites. Once the report is completed and assuming it is favorable, I am confident that a joint venture agreement will be consummated shortly thereafter," stated Mr. Fineberg.
"I am impressed with TTY's businesses and the gold sites. TTY is a very substantial company in Cambodia in the areas of agriculture and mining. The two gold sites are both easily accessible by roads and both show a history of mining activity," stated Mr. Burns.
"I am pleased to learn while here that Cambodian Ventures has several other exciting opportunities to explore. Furthermore, a large Australian mining company is now preparing to make a significant investment in six other gold properties in Cambodia, validating Cambodian Ventures' belief that tremendous mining opportunities exist in this country," added Mr. Burns.
About Cambodian Ventures
The mission of Cambodian Ventures Limited is to obtain licenses for the exploration and mining of precious minerals in Cambodia. The Company intends to carry out exploration activities in regions containing gold and other precious minerals. It is Management's opinion that high-quality minerals such as gold, zinc and other resources in Cambodia are largely untapped and that a significant opportunity exists for their development.
rimasco
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Nice volume for TOD as well
worthashot
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L2s look good, more news today.
worthashot
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CMBV .001
--Cambodian Ventures Limited and Brighton Minerals Team Up to Develop Precious Mineral Properties in Cambodia
2006-07-20 06:00 ET - News Release
LOWELL, MA and PHNOM PENH, CAMBODIA -- (MARKET WIRE) -- 07/20/06
Cambodian Ventures Limited (PINKSHEETS: CMBV) is pleased to announce that it has entered into a joint venture agreement with Brighton Minerals Limited of Australia for the purposes of assessing and acquiring gold and other precious metals mining properties in the Kingdom of Cambodia and adjoining countries.
Under the joint venture agreement, the parties will form a new company in the Kingdom of Cambodia, which will undertake all of the joint venture activities, including exploration and holding of the joint venture's mining properties.
The formation of the joint venture will combine the many resources and contacts of both parties, making the new entity a significant participant in the precious metals exploration and mining industry in the Kingdom of Cambodia. It will also give both parties the potential for further joint development and mining arrangements with other resource companies from North America and Australia.
Already the joint venture has undertaken the initial assessment of four highly prospective mining properties in the Kingdom of Cambodia. The acquisition and development of these properties should prove to be significantly profitable for both joint venture parties. These mining properties cover a broad commodity base of gold, lead, zinc and copper, with geological reports and evidence of previous mining on these properties offering great promise for their future development.
In addition to the synergies offered by this joint venture agreement, Cambodian Ventures will become a significant shareholder in the proposed stock exchange listing of Brighton Minerals Limited or one of its related companies in either the United Kingdom or Australia, giving the Company wide exposure to other mining projects around the world associated with the Brighton Resources Group.
Brighton Minerals Limited is part of the Brighton Resources Group in Australia and has already established strong mining and government connections in the Kingdom of Cambodia and nearby countries. Its executives and associates have enjoyed significant success with exchange listings and day-to-day management of large exploration and mining companies in Australia. Their combined years of mining experience, access to large capital financing, and team of geological experts will be greatly beneficial to the joint venture.
Managing Director of Brighton Minerals Limited, Jonathan Remta, stated, "I believe that Cambodia offers mining opportunities like no other country, and although exploration and mining development are still relatively grass roots and at an infant stage, it won't take long for a major discovery in Cambodia of a world class ore body. We are pleased to be teaming up with Cambodian Ventures which has made significant inroads in the region."
Safe Harbor Statement: The statements, other than the statements of historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
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