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BRIEF-Chinalco Yunnan Copper Resources updates on placement of securities to JCHX group

Published 19/01/2016, 09:48 am
© Reuters.  BRIEF-Chinalco Yunnan Copper Resources updates on placement of securities to JCHX group
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Jan 19 (Reuters) - Chinalco Yunnan Copper Resources Ltd CYU.AX :

* Update on placement of securities to JCHX Group CYU.AX

* On 22 October 2015, CYU announced to the ASX details of a proposed strategic co-operation agreement with the Beijing-based jchx group

* CYU is continuing discussions with JCHX regarding alternative transactions

* Yunnan Copper Group indicated to CYU that China copper will not provide continued financial support in the future to CYU

* CYU is also considering other fundraising opportunities

* Says approval condition cannot be satisfied

* Proposed strategic co- operation agreement between JCHX and CYU will not proceed in its current form

* CYU is reviewing all aspects of its existing operations and activities so as to minimise demands on available cash reserves

* Source text for Eikon ID:nASX904qpW

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