SOURCE: Trendfield Holdings Ltd

Trendfield Holdings Ltd

Trendfield Holdings Ltd

April 23, 2009 14:34 ET

Completion of a Mutual Undertaking Agreement Between Kores Resources Corporation (KORES) and Trendfield Holdings (Trendfield)

HONG KONG--(Marketwire - April 23, 2009) - Trendfield and KORES signed a Mutual Undertaking Agreement that will lay the foundation for greater cooperation between the two organizations. Under the agreement, KORES agreed to purchase Trendfield's 5% of the SOMINA uranium deposit in Niger, West Africa.

The purchase will also play a significant role in China-South Korea bilateral relations. The majority shares in SOMINA, the Teguidda exploitation project, are owned by Sino-U, a Chinese state-owned company.

Also under the terms of the agreement, Trendfield will assist KORES with the long-term off-take purchase agreement (400 tons per annum) of uranium from the Government of Niger.

According to Guy Duport, CEO of Trendfield, "The road is still long and we look forward to a fruitful partnership based on mutual trust and understanding, a true win-win strategic partnership. All parties have high expectations, but this is an extremely proud and historic moment for all of us."

Trendfield, in 2006, was responsible for the historic deal that brought the Chinese their first uranium mine outside of China, the 15,000 ton uranium deposit known as the Azelik / Teguidda permit, in Niger, West Africa.

Contact Information

  • For any queries regarding this release, please contact:
    Mr. Christopher Lyon
    Marketing Manager
    Trendfield Holdings Ltd
    Room 1203, Block C
    Central International Trade Center
    6A Jianguomenwai Avenue
    Chaoyang District, Beijing 100022
    Telephone + 86 10 85679215
    Fax: + 86 10 85679221
    Email: Email Contact