Proactiveinvestors United Kingdom Prosperity Minerals

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	&lt;title&gt;Proactiveinvestors United Kingdom Prosperity Minerals&lt;/title&gt;
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	&lt;pubDate&gt;Wed, 23 May 2012 23:05:19 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian deal now expected to complete in July ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital (AWC) has been delayed until the end of July.&lt;/p&gt;
&lt;p&gt;PIHL, Prosperity&amp;rsquo;s majority shareholder has told it that a circular to independent shareholders will be delayed until June as work on the competent person&amp;rsquo;s and independent valuation reports is still ongoing.&lt;/p&gt;
&lt;p&gt;&amp;ldquo;This means that completion, if it were to occur, is likely to be in late July,&amp;rdquo; Prosperity said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced a deal to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC also owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines. It also owns a processing plant in Malaysia adjacent to the mines.&lt;/p&gt;
&lt;p&gt;In March, Prosperity&amp;rsquo;s independent directors said they wanted to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 30 Apr 2012 15:07:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Announcement re: Investment in All Wealthy Capital ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 30 Apr 2012 14:00:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Holdings in Company ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 03 Apr 2012 09:30:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian iron deal pushed back ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital has been delayed until May.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s independent directors said they want to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;p&gt;The independent directors also said they need to be sure that the pro-forma net asset value of All Wealthy (AWC) is not materially less than US$500 million.&lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; parent company is Hong Kong-listed and the time needed to prepare a report for the HK authorities and hold an independent shareholders&#039; meeting means completion is now likely to be in late May 2012, it said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced it had agreed to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines.&lt;/p&gt;
&lt;p&gt;It also owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per annum.&lt;/p&gt;
&lt;p&gt;The deal includes an option for Prosperity to buy 9.5 million tonnes of iron ore from AWC over a 10 year period at a discount to the prevailing market price.&lt;/p&gt;
&lt;p&gt;The intention is to list AWC on the HK stock exchange within two years, but if this does not happen Prosperity can ask for its investment back.&lt;/p&gt;
&lt;p&gt;The valuation of US$500 million placed was based largely on an investment of US$50 million for a 10 per cent stake in AWC by Nanjing Steel, one of the largest steel mill operators in China, Prosperity added.&lt;/p&gt;
&lt;p&gt;Shares rose 4.5p to 79p.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 11:45:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed investment - additional information ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 09:00:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/guid&gt;
		&lt;/item&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to invest in Malaysian iron ore operation ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is to invest in an iron ore company, which owns 70 per cent of the mining rights in two Malaysian mines, for a total of US$25 million.&lt;br /&gt;&lt;br /&gt;The company announced the conditional sale and purchase agreement to acquire a 5 per cent stake in All Wealthy Capital Ltd.&lt;br /&gt;&lt;br /&gt;The deal also involves an offtake agreement upon the acquisition&amp;rsquo;s completion. Prosperity will then secure the right to buy 9.5 million tonnes of iron ore over a 10 year period at a discount to the prevailing market price.&lt;br /&gt;&lt;br /&gt;The proposed investment in All Wealthy and the offtake-agreement is in line with the company&#039;s strategy to continue to increase its investment in iron ore resources and to expand access to sources of iron ore at competitive prices for sale to end users in China.&lt;br /&gt;&lt;br /&gt;Prosperity&#039;s 100 per cent subsidiary, Pro-Rise entered into the sale and purchase agreement with Elite Force, which owns an 80 per cent interest in All Wealthy.&lt;br /&gt;&lt;br /&gt;Elite Force is 100 per cent owned by chairman and CEO of Prosperity, David Wong. After completion of the deal, Prosperity will hold a 3.5 per cent stake in a Malaysian iron ore operation. &lt;br /&gt;&lt;br /&gt;As well as 70 per cent of mining rights, All Wealthy owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per year.&lt;br /&gt;&lt;br /&gt;Prosperity will pay US$7 million, or around &amp;pound;4.4 million, as a&amp;nbsp; refundable deposit by February 15 this year 2012 with the balance of US$18 million, or around &amp;pound;11.3 million, due upon completion.&lt;br /&gt;&lt;br /&gt;The acquisition is expected to be finished by the end of March this year, subject to all regulatory approvals, including shareholder approval.&lt;br /&gt;&lt;br /&gt;Under an agreement with Prosperity International Holdings Ltd (PIHL) last month, in which it paid US$6 million as a refundable deposit, Prosperity has the option to participate in the acquisition of further interests in All Wealthy alongside PIHL, the firm added.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 10:19:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/guid&gt;
		&lt;/item&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed Investment ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 09:07:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals encouraged by first apartment sales at Guangzhou City development ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) said it made the first presales of residential units at the Oriental Landmark development, Guangzhou City, on December 25 2011.&lt;br /&gt;&lt;br /&gt;Of the 184 units put up for sale, 79 were sold in the first two weeks up to January 8 2012. &amp;ldquo;This is encouraging with both prices and results in line with the company&#039;s expectations,&amp;rdquo; it told investors.&lt;br /&gt;&lt;br /&gt;The company continues to monitor prevailing market conditions to determine presale schedules and prices for units in the remaining three residential blocks and expects presales of all four residential blocks to have commenced by the end of 2012.&lt;br /&gt;&lt;br /&gt;Prosperity is focused on real estate ownership and development in China, and is invested in two cement manufacturers in the country.&amp;nbsp; It announced in September 2010 that it was selling its iron ore trading business or US$38.6 million to its controlling shareholder, Prosperity International Holdings, so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;Prosperity acquired the Oriental Landmark property development project, previously referred to as Dongfang Wende Plaza, in August 2010. &lt;br /&gt;&lt;br /&gt;Since acquisition, the company has incurred some additional construction costs, administrative expenses and taxes. Nonetheless, based on current presale results and market conditions, management expects a good return on the sale of the residential units in this development, it said.&lt;br /&gt;&amp;nbsp;&lt;br /&gt;Chairman and chief executive David Wong: &quot;Current presale results reflect the strong demand for high end residential property in downtown Guangzhou City. I believe presales from all the residential units, once completed, will provide the company with a good return and that rental income from the commercial units will provide long term recurring income.&quot;&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 10:04:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Trading Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 09:06:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals is &quot;significantly undervalued&quot;, says Daniel Stewart ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is &#039;significantly undervalued&#039;, says broker &lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt;, which rates the stock a &#039;buy&#039; and targets a price of 211 pence (current price: 87 pence).&lt;br /&gt;&lt;br /&gt;The firm, an iron ore trading business serving the People&#039;s Republic of China (PRC), is also a real estate owner and developer, and is invested in two cement manufacturers in the PRC.&lt;br /&gt;&lt;br /&gt;In September this year, the group unveiled plans to sell its iron trading business for US$38.6 million to its controlling shareholder, Prosperity International Holdings so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; analyst Simon Wills, in a wide- ranging note, said that the firm&#039;s share price had fallen sharply since the middle of the year.&lt;br /&gt;&lt;br /&gt;This had been caused, he said, partly on fears of slowdown in China and a property bubble and more recently due to uncertainty created by the proposal to sell the firm&#039;s iron ore business.&lt;br /&gt;&lt;br /&gt;&quot;This has resulted in a situation where the stake in Anhui Chaodong Cement (ACC) now accounts for almost the whole of the group&#039;s market cap,&quot; said the analyst.&lt;br /&gt;&lt;br /&gt;Wills said the Firm&#039;s ACC stake was now worth 70 pence, or 80 per cent of Prosperity&#039;s share price and the iron ore operations were valued by the broker at 7 pence per share.&lt;br /&gt;&lt;br /&gt;Thus, he said: &quot;The Real Estate business is in the price almost for free.&quot;&lt;br /&gt;&lt;br /&gt;He added: &quot;Our target price of 211p suggests the stock offers upside of 140 per cent. Even if Real Estate is valued on a 50 per cent discount to our estimate, the upside is 56 per cent.&quot;&lt;br /&gt;&lt;br /&gt;The firm&#039;s current valuation looked &quot;churlish to say the least&quot; said the analyst, who added that he looked towards news of pre sales at commercial and residential development Orient Landmark to pull the positive trigger.&lt;br /&gt;&lt;br /&gt;Last year, the firm bought&amp;nbsp; Bliss Hero for HK$836 million, which holds interests in an existing commercial building - SilverBay Plaza and a new commercial and residential development - Oriental Landmark - in Guangzhou City in Guangdong Province.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 02 Dec 2011 13:24:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals sees increase in revenues and profits ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Chinese iron ore trading and cement business &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) boosted its first-half revenues by 17 per cent to US$507.8 million while producing a pre-tax profit of US$8.4 million (H1 2011: US$2.5 million loss), the firm said today.&lt;/p&gt;
&lt;p&gt;Reporting its interim results for the six months to September 30, Prosperity said that while the firm increased the amount of iron ore shipped during the first half to 2.8 million tonnes, from 2.7 million tonnes in H1 2011, its revenue increase was also due to higher average selling prices. However, the operating profit per tonne came in lower at US$3.6 million (H1 2011: US$6.6 million) because, the firm said, margins continue to come under pressure due to the abandonment of the industry&amp;rsquo;s annual price fixing and greater direct trade between miners and steel mills.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s cement operations produced an attributable profit of US$8.7 million, compared to a loss of US$0.6 million in H1 2011. The firm said that its 33 per cent-owned Anhui Chaodong Cement business produced and sold more cement and clinker as demand in its region was strong and average selling prices higher. The 16.1 per cent-owned TCC Liaoyang business produced an operating profit of US$0.2 million, but it ended up contributing a loss of US$1.9 million (H1 2011: US$0.04 million) due to as loss on demand disposal of US$2.1 million caused by a share issuance in August.&lt;/p&gt;
&lt;p&gt;Prosperity said that its real estate development projects business made a loss of US$3.5 million, compared to a US$0.6 million profit in H1 2011.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;&amp;ldquo;I remain confident that the company will continue to trade well in both iron ore and real estate despite challenging market conditions brought about by an unsettled iron ore market and Chinese government policy, together with continuing global economic uncertainties,&amp;rdquo; said David Wong, Prosperity&amp;rsquo;s chairman and chief executive officer.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s share price was down 1.8 per cent at 82 pence in early trading today.&lt;/p&gt;
&lt;div&gt;&lt;br /&gt;&lt;/div&gt;
&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 10:01:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Interim Results ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 08:32:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals agrees new iron ore supply deal ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Prosperity Minerals (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) today announced that its wholly-owned iron trading subsidiary has signed a new deal.&lt;/p&gt;
&lt;p&gt;Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore over a 14 month period.&lt;/p&gt;
&lt;p&gt;This will be capped at 130,000 tonnes to the end of 2011, and 1.68 million tonnes in 2012.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will also provide a range of administrative services, including the handling of shipping documents and liaising with payment banks. &amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will receive a commission of US$2 per dry metric tonne of iron ore.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;It will also receive a handling charge of US$2 per dry tonne of iron ore, if the letter of credit in relation to shipment includes payment terms of 90 days.&lt;/p&gt;
&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 09:21:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - PMMC Enters into Iron Ore Agency Agreement ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 08:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Notice of Interim Results and Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Thu, 10 Nov 2011 13:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings loans $10mln to iron ore joint venture ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; today loaned a further US$10 million to its part-owned business Globest Participaceos (GPL), taking the amount of total loans to the company to US$22.8 million.&lt;br /&gt;&lt;br /&gt;Prosperity holds a 35 percent interest in United Goalink Limited (UGL), a joint venture company involved in the exploration and production of iron ore in Brazil. GPL is an indirect subsidiary of UGL, which holds 602.3 square kilometres of exploration rights and 3.01 square kilometres of mining concessions in Brazil.&lt;br /&gt;&lt;br /&gt;UGL will use the funds to set up an iron ore processing plant, upgrade facilities and cover other operational expenses.&lt;br /&gt;&lt;br /&gt;These upgrades are expected to increase production volume and quality, bringing enhanced profit and cashflow to Prosperity Minerals.&lt;br /&gt;&lt;br /&gt;Of this, US$8.6 million should be repaid until 24 January 2012 and a further US$1.4 million has to be repaid by the end of August 2013.&lt;br /&gt;&lt;br /&gt;The balance is to be repaid upon written demand in two tranches of US$2.8 million and US$10 million by August 29 2013 and end October 2013 respectively.&lt;br /&gt;&lt;br /&gt;In the period between January and August this year, Prosperity loaned US$12.8 million to GPL at an annual interest rate of 8 percent.&lt;br /&gt;&lt;br /&gt;A month ago, Prosperity changes its plans to sell its Chinese iron trading business for US$38.6 million to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, a number of independent shareholders, representing a significant shareholding in Prosperity, said they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;This morning, shares in Prosperity fell 1 percent to trade at 92 pence, giving the company a market cap of &amp;pound;132 million.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 31 Oct 2011 10:45:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html&lt;/guid&gt;
		&lt;/item&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Loan Transactions ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 31 Oct 2011 09:04:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings signs new relationship deed with controlling shareholder ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; has signed a new relationship deed with Prosperity International Holdings (PIHL), enabling PMHL to carry its business independently of control from its largest shareholder.&lt;br /&gt;&lt;br /&gt;The new relationship deed, which will regulate the conduct of the relationship between PMHL and its controlling shareholder PIHL, replaces a similar agreement between the companies signed at the time of Prosperity&amp;rsquo;s flotation on the AIM market in 2006.&lt;br /&gt;&lt;br /&gt;Under the terms of the new agreement, all transactions between PIHL, Prosperity Minerals and any of its subsidiaries will be carried out &amp;ldquo;at arm&#039;s length and on a normal commercial basis&amp;rdquo; and free of the control that PIHL would have otherwise been able to exercise through its shareholding.&lt;br /&gt;&lt;br /&gt;In particular, PIHL has agreed not to influence any director of PMHL and its subsidiaries regarding their day to day operations.&lt;br /&gt;&lt;br /&gt;Prosperity Minerals operates as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;PIHL became the controlling shareholder of Prosperity in August 2009 and currently holds a 64.07 percent interest in the company.&lt;br /&gt;&lt;br /&gt;Co-founder, chairman and chief executive of Prosperity Minerals David Wong holds a total 64.11 percent interest in PIHL.&lt;br /&gt;&lt;br /&gt;The relationship deed will terminate when the aggregate shareholding of PIHL and its associates falls below 30 per cent of the shares of the company.&lt;br /&gt;&lt;br /&gt;The new agreement came less than a month after Prosperity Minerals changed its plans to sell its Chinese iron trading business to PIHL for US$38.6 million after being informed by its independent shareholders that they would &amp;ldquo;very much like&amp;rdquo; to retain the unit.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 26 Oct 2011 10:44:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Relationship Deed ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 26 Oct 2011 09:47:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/&lt;/guid&gt;
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		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to retain iron trading business ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;Prosperity Minerals Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;&lt;/a&gt;) has revealed a u-turn in its plan to sell its Chinese iron trading business.&lt;br /&gt;&lt;br /&gt;Earlier this month the company unveiled a US$38.6 million deal to sell its iron trading business to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, today Prosperity said that it has been informed by a number of independent shareholders, representing a significant shareholding in Prosperity, that they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Consequently Prosperity has decided that it will not pursue the disposal at this time. This also means that the company&amp;rsquo;s proposed special dividend &amp;ndash; which would have been the second this year &amp;ndash; will not go ahead either.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;&quot;I remain confident about sustained and strong demand for iron ore in the PRC and Prosperity will continue to develop and enhance its iron ore business together with real estate. I look forward with confidence,&quot; said chairman and chief executive David Wong.&lt;/p&gt;
&lt;p&gt;&amp;nbsp;&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 30 Sep 2011 13:25:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html&lt;/guid&gt;
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	"id" => "42145",
	"title" => "News - Prosperity Minerals&#039; Malaysian deal now expected to complete in July",
	"pubdate" => "2012-04-30 15:07:00",
	"seftitle" => "prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html",
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&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital (AWC) has been delayed until the end of July.&lt;/p&gt;
&lt;p&gt;PIHL, Prosperity&amp;rsquo;s majority shareholder has told it that a circular to independent shareholders will be delayed until June as work on the competent person&amp;rsquo;s and independent valuation reports is still ongoing.&lt;/p&gt;
&lt;p&gt;&amp;ldquo;This means that completion, if it were to occur, is likely to be in late July,&amp;rdquo; Prosperity said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced a deal to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC also owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines. It also owns a processing plant in Malaysia adjacent to the mines.&lt;/p&gt;
&lt;p&gt;In March, Prosperity&amp;rsquo;s independent directors said they wanted to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html"
),
	array(
	"id" => "120430pmhl3427c",
	"title" => "RNS press release - Announcement re: Investment in All Wealthy Capital",
	"pubdate" => "2012-04-30 14:00:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/"
),
	array(
	"id" => "120403pmhl6950a",
	"title" => "RNS press release - Holdings in Company",
	"pubdate" => "2012-04-03 09:30:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/"
),
	array(
	"id" => "39916",
	"title" => "News - Prosperity Minerals&#039; Malaysian iron deal pushed back",
	"pubdate" => "2012-03-07 11:45:00",
	"seftitle" => "prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital has been delayed until May.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s independent directors said they want to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;p&gt;The independent directors also said they need to be sure that the pro-forma net asset value of All Wealthy (AWC) is not materially less than US$500 million.&lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; parent company is Hong Kong-listed and the time needed to prepare a report for the HK authorities and hold an independent shareholders&#039; meeting means completion is now likely to be in late May 2012, it said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced it had agreed to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines.&lt;/p&gt;
&lt;p&gt;It also owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per annum.&lt;/p&gt;
&lt;p&gt;The deal includes an option for Prosperity to buy 9.5 million tonnes of iron ore from AWC over a 10 year period at a discount to the prevailing market price.&lt;/p&gt;
&lt;p&gt;The intention is to list AWC on the HK stock exchange within two years, but if this does not happen Prosperity can ask for its investment back.&lt;/p&gt;
&lt;p&gt;The valuation of US$500 million placed was based largely on an investment of US$50 million for a 10 per cent stake in AWC by Nanjing Steel, one of the largest steel mill operators in China, Prosperity added.&lt;/p&gt;
&lt;p&gt;Shares rose 4.5p to 79p.&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html"
),
	array(
	"id" => "120307pmhl8551y",
	"title" => "RNS press release - Proposed investment - additional information",
	"pubdate" => "2012-03-07 09:00:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/"
),
	array(
	"id" => "38832",
	"title" => "News - Prosperity Minerals to invest in Malaysian iron ore operation",
	"pubdate" => "2012-02-10 10:19:00",
	"seftitle" => "prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is to invest in an iron ore company, which owns 70 per cent of the mining rights in two Malaysian mines, for a total of US$25 million.&lt;br /&gt;&lt;br /&gt;The company announced the conditional sale and purchase agreement to acquire a 5 per cent stake in All Wealthy Capital Ltd.&lt;br /&gt;&lt;br /&gt;The deal also involves an offtake agreement upon the acquisition&amp;rsquo;s completion. Prosperity will then secure the right to buy 9.5 million tonnes of iron ore over a 10 year period at a discount to the prevailing market price.&lt;br /&gt;&lt;br /&gt;The proposed investment in All Wealthy and the offtake-agreement is in line with the company&#039;s strategy to continue to increase its investment in iron ore resources and to expand access to sources of iron ore at competitive prices for sale to end users in China.&lt;br /&gt;&lt;br /&gt;Prosperity&#039;s 100 per cent subsidiary, Pro-Rise entered into the sale and purchase agreement with Elite Force, which owns an 80 per cent interest in All Wealthy.&lt;br /&gt;&lt;br /&gt;Elite Force is 100 per cent owned by chairman and CEO of Prosperity, David Wong. After completion of the deal, Prosperity will hold a 3.5 per cent stake in a Malaysian iron ore operation. &lt;br /&gt;&lt;br /&gt;As well as 70 per cent of mining rights, All Wealthy owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per year.&lt;br /&gt;&lt;br /&gt;Prosperity will pay US$7 million, or around &amp;pound;4.4 million, as a&amp;nbsp; refundable deposit by February 15 this year 2012 with the balance of US$18 million, or around &amp;pound;11.3 million, due upon completion.&lt;br /&gt;&lt;br /&gt;The acquisition is expected to be finished by the end of March this year, subject to all regulatory approvals, including shareholder approval.&lt;br /&gt;&lt;br /&gt;Under an agreement with Prosperity International Holdings Ltd (PIHL) last month, in which it paid US$6 million as a refundable deposit, Prosperity has the option to participate in the acquisition of further interests in All Wealthy alongside PIHL, the firm added.&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html"
),
	array(
	"id" => "120210pmhl1911x",
	"title" => "RNS press release - Proposed Investment",
	"pubdate" => "2012-02-10 09:07:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/"
),
	array(
	"id" => "37587",
	"title" => "News - Prosperity Minerals encouraged by first apartment sales at Guangzhou City development",
	"pubdate" => "2012-01-09 10:04:00",
	"seftitle" => "prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) said it made the first presales of residential units at the Oriental Landmark development, Guangzhou City, on December 25 2011.&lt;br /&gt;&lt;br /&gt;Of the 184 units put up for sale, 79 were sold in the first two weeks up to January 8 2012. &amp;ldquo;This is encouraging with both prices and results in line with the company&#039;s expectations,&amp;rdquo; it told investors.&lt;br /&gt;&lt;br /&gt;The company continues to monitor prevailing market conditions to determine presale schedules and prices for units in the remaining three residential blocks and expects presales of all four residential blocks to have commenced by the end of 2012.&lt;br /&gt;&lt;br /&gt;Prosperity is focused on real estate ownership and development in China, and is invested in two cement manufacturers in the country.&amp;nbsp; It announced in September 2010 that it was selling its iron ore trading business or US$38.6 million to its controlling shareholder, Prosperity International Holdings, so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;Prosperity acquired the Oriental Landmark property development project, previously referred to as Dongfang Wende Plaza, in August 2010. &lt;br /&gt;&lt;br /&gt;Since acquisition, the company has incurred some additional construction costs, administrative expenses and taxes. Nonetheless, based on current presale results and market conditions, management expects a good return on the sale of the residential units in this development, it said.&lt;br /&gt;&amp;nbsp;&lt;br /&gt;Chairman and chief executive David Wong: &quot;Current presale results reflect the strong demand for high end residential property in downtown Guangzhou City. I believe presales from all the residential units, once completed, will provide the company with a good return and that rental income from the commercial units will provide long term recurring income.&quot;&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html"
),
	array(
	"id" => "120109pmhl2043v",
	"title" => "RNS press release - Trading Update",
	"pubdate" => "2012-01-09 09:06:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/"
),
	array(
	"id" => "36442",
	"title" => "News - Prosperity Minerals is &quot;significantly undervalued&quot;, says Daniel Stewart",
	"pubdate" => "2011-12-02 13:24:00",
	"seftitle" => "prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is &#039;significantly undervalued&#039;, says broker &lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt;, which rates the stock a &#039;buy&#039; and targets a price of 211 pence (current price: 87 pence).&lt;br /&gt;&lt;br /&gt;The firm, an iron ore trading business serving the People&#039;s Republic of China (PRC), is also a real estate owner and developer, and is invested in two cement manufacturers in the PRC.&lt;br /&gt;&lt;br /&gt;In September this year, the group unveiled plans to sell its iron trading business for US$38.6 million to its controlling shareholder, Prosperity International Holdings so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; analyst Simon Wills, in a wide- ranging note, said that the firm&#039;s share price had fallen sharply since the middle of the year.&lt;br /&gt;&lt;br /&gt;This had been caused, he said, partly on fears of slowdown in China and a property bubble and more recently due to uncertainty created by the proposal to sell the firm&#039;s iron ore business.&lt;br /&gt;&lt;br /&gt;&quot;This has resulted in a situation where the stake in Anhui Chaodong Cement (ACC) now accounts for almost the whole of the group&#039;s market cap,&quot; said the analyst.&lt;br /&gt;&lt;br /&gt;Wills said the Firm&#039;s ACC stake was now worth 70 pence, or 80 per cent of Prosperity&#039;s share price and the iron ore operations were valued by the broker at 7 pence per share.&lt;br /&gt;&lt;br /&gt;Thus, he said: &quot;The Real Estate business is in the price almost for free.&quot;&lt;br /&gt;&lt;br /&gt;He added: &quot;Our target price of 211p suggests the stock offers upside of 140 per cent. Even if Real Estate is valued on a 50 per cent discount to our estimate, the upside is 56 per cent.&quot;&lt;br /&gt;&lt;br /&gt;The firm&#039;s current valuation looked &quot;churlish to say the least&quot; said the analyst, who added that he looked towards news of pre sales at commercial and residential development Orient Landmark to pull the positive trigger.&lt;br /&gt;&lt;br /&gt;Last year, the firm bought&amp;nbsp; Bliss Hero for HK$836 million, which holds interests in an existing commercial building - SilverBay Plaza and a new commercial and residential development - Oriental Landmark - in Guangzhou City in Guangdong Province.&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html"
),
	array(
	"id" => "36256",
	"title" => "News - Prosperity Minerals sees increase in revenues and profits",
	"pubdate" => "2011-11-29 10:01:00",
	"seftitle" => "prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html",
	"description" => "&lt;p&gt;
&lt;p&gt;Chinese iron ore trading and cement business &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) boosted its first-half revenues by 17 per cent to US$507.8 million while producing a pre-tax profit of US$8.4 million (H1 2011: US$2.5 million loss), the firm said today.&lt;/p&gt;
&lt;p&gt;Reporting its interim results for the six months to September 30, Prosperity said that while the firm increased the amount of iron ore shipped during the first half to 2.8 million tonnes, from 2.7 million tonnes in H1 2011, its revenue increase was also due to higher average selling prices. However, the operating profit per tonne came in lower at US$3.6 million (H1 2011: US$6.6 million) because, the firm said, margins continue to come under pressure due to the abandonment of the industry&amp;rsquo;s annual price fixing and greater direct trade between miners and steel mills.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s cement operations produced an attributable profit of US$8.7 million, compared to a loss of US$0.6 million in H1 2011. The firm said that its 33 per cent-owned Anhui Chaodong Cement business produced and sold more cement and clinker as demand in its region was strong and average selling prices higher. The 16.1 per cent-owned TCC Liaoyang business produced an operating profit of US$0.2 million, but it ended up contributing a loss of US$1.9 million (H1 2011: US$0.04 million) due to as loss on demand disposal of US$2.1 million caused by a share issuance in August.&lt;/p&gt;
&lt;p&gt;Prosperity said that its real estate development projects business made a loss of US$3.5 million, compared to a US$0.6 million profit in H1 2011.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;&amp;ldquo;I remain confident that the company will continue to trade well in both iron ore and real estate despite challenging market conditions brought about by an unsettled iron ore market and Chinese government policy, together with continuing global economic uncertainties,&amp;rdquo; said David Wong, Prosperity&amp;rsquo;s chairman and chief executive officer.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s share price was down 1.8 per cent at 82 pence in early trading today.&lt;/p&gt;
&lt;div&gt;&lt;br /&gt;&lt;/div&gt;
&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html"
),
	array(
	"id" => "111129pmhl9486s",
	"title" => "RNS press release - Interim Results",
	"pubdate" => "2011-11-29 08:32:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/"
),
	array(
	"id" => "35624",
	"title" => "News - Prosperity Minerals agrees new iron ore supply deal",
	"pubdate" => "2011-11-15 09:21:00",
	"seftitle" => "prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html",
	"description" => "&lt;p&gt;
&lt;p&gt;Prosperity Minerals (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) today announced that its wholly-owned iron trading subsidiary has signed a new deal.&lt;/p&gt;
&lt;p&gt;Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore over a 14 month period.&lt;/p&gt;
&lt;p&gt;This will be capped at 130,000 tonnes to the end of 2011, and 1.68 million tonnes in 2012.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will also provide a range of administrative services, including the handling of shipping documents and liaising with payment banks. &amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will receive a commission of US$2 per dry metric tonne of iron ore.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;It will also receive a handling charge of US$2 per dry tonne of iron ore, if the letter of credit in relation to shipment includes payment terms of 90 days.&lt;/p&gt;
&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html"
),
	array(
	"id" => "111115pmhl1030s",
	"title" => "RNS press release - PMMC Enters into Iron Ore Agency Agreement",
	"pubdate" => "2011-11-15 08:46:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/"
),
	array(
	"id" => "111110pmhl8836r",
	"title" => "RNS press release - Notice of Interim Results and Update",
	"pubdate" => "2011-11-10 13:46:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/"
),
	array(
	"id" => "34991",
	"title" => "News - Prosperity Minerals Holdings loans $10mln to iron ore joint venture",
	"pubdate" => "2011-10-31 10:45:00",
	"seftitle" => "prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html",
	"description" => "&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; today loaned a further US$10 million to its part-owned business Globest Participaceos (GPL), taking the amount of total loans to the company to US$22.8 million.&lt;br /&gt;&lt;br /&gt;Prosperity holds a 35 percent interest in United Goalink Limited (UGL), a joint venture company involved in the exploration and production of iron ore in Brazil. GPL is an indirect subsidiary of UGL, which holds 602.3 square kilometres of exploration rights and 3.01 square kilometres of mining concessions in Brazil.&lt;br /&gt;&lt;br /&gt;UGL will use the funds to set up an iron ore processing plant, upgrade facilities and cover other operational expenses.&lt;br /&gt;&lt;br /&gt;These upgrades are expected to increase production volume and quality, bringing enhanced profit and cashflow to Prosperity Minerals.&lt;br /&gt;&lt;br /&gt;Of this, US$8.6 million should be repaid until 24 January 2012 and a further US$1.4 million has to be repaid by the end of August 2013.&lt;br /&gt;&lt;br /&gt;The balance is to be repaid upon written demand in two tranches of US$2.8 million and US$10 million by August 29 2013 and end October 2013 respectively.&lt;br /&gt;&lt;br /&gt;In the period between January and August this year, Prosperity loaned US$12.8 million to GPL at an annual interest rate of 8 percent.&lt;br /&gt;&lt;br /&gt;A month ago, Prosperity changes its plans to sell its Chinese iron trading business for US$38.6 million to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, a number of independent shareholders, representing a significant shareholding in Prosperity, said they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;This morning, shares in Prosperity fell 1 percent to trade at 92 pence, giving the company a market cap of &amp;pound;132 million.&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html"
),
	array(
	"id" => "111031pmhl1337r",
	"title" => "RNS press release - Loan Transactions",
	"pubdate" => "2011-10-31 09:04:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/"
),
	array(
	"id" => "34818",
	"title" => "News - Prosperity Minerals Holdings signs new relationship deed with controlling shareholder",
	"pubdate" => "2011-10-26 10:44:00",
	"seftitle" => "prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html",
	"description" => "&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; has signed a new relationship deed with Prosperity International Holdings (PIHL), enabling PMHL to carry its business independently of control from its largest shareholder.&lt;br /&gt;&lt;br /&gt;The new relationship deed, which will regulate the conduct of the relationship between PMHL and its controlling shareholder PIHL, replaces a similar agreement between the companies signed at the time of Prosperity&amp;rsquo;s flotation on the AIM market in 2006.&lt;br /&gt;&lt;br /&gt;Under the terms of the new agreement, all transactions between PIHL, Prosperity Minerals and any of its subsidiaries will be carried out &amp;ldquo;at arm&#039;s length and on a normal commercial basis&amp;rdquo; and free of the control that PIHL would have otherwise been able to exercise through its shareholding.&lt;br /&gt;&lt;br /&gt;In particular, PIHL has agreed not to influence any director of PMHL and its subsidiaries regarding their day to day operations.&lt;br /&gt;&lt;br /&gt;Prosperity Minerals operates as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;PIHL became the controlling shareholder of Prosperity in August 2009 and currently holds a 64.07 percent interest in the company.&lt;br /&gt;&lt;br /&gt;Co-founder, chairman and chief executive of Prosperity Minerals David Wong holds a total 64.11 percent interest in PIHL.&lt;br /&gt;&lt;br /&gt;The relationship deed will terminate when the aggregate shareholding of PIHL and its associates falls below 30 per cent of the shares of the company.&lt;br /&gt;&lt;br /&gt;The new agreement came less than a month after Prosperity Minerals changed its plans to sell its Chinese iron trading business to PIHL for US$38.6 million after being informed by its independent shareholders that they would &amp;ldquo;very much like&amp;rdquo; to retain the unit.&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html"
),
	array(
	"id" => "111026pmhl8663q",
	"title" => "RNS press release - Relationship Deed",
	"pubdate" => "2011-10-26 09:47:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/"
),
	array(
	"id" => "33816",
	"title" => "News - Prosperity Minerals to retain iron trading business",
	"pubdate" => "2011-09-30 13:25:00",
	"seftitle" => "prosperity-minerals-to-retain-iron-trading-business-33816.html",
	"description" => "&lt;p&gt;Prosperity Minerals Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;&lt;/a&gt;) has revealed a u-turn in its plan to sell its Chinese iron trading business.&lt;br /&gt;&lt;br /&gt;Earlier this month the company unveiled a US$38.6 million deal to sell its iron trading business to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, today Prosperity said that it has been informed by a number of independent shareholders, representing a significant shareholding in Prosperity, that they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Consequently Prosperity has decided that it will not pursue the disposal at this time. This also means that the company&amp;rsquo;s proposed special dividend &amp;ndash; which would have been the second this year &amp;ndash; will not go ahead either.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;&quot;I remain confident about sustained and strong demand for iron ore in the PRC and Prosperity will continue to develop and enhance its iron ore business together with real estate. I look forward with confidence,&quot; said chairman and chief executive David Wong.&lt;/p&gt;
&lt;p&gt;&amp;nbsp;&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html"
)
)
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	&lt;title&gt;Proactiveinvestors United Kingdom Prosperity Minerals&lt;/title&gt;
	&lt;link&gt;http://www.proactiveinvestors.co.uk&lt;/link&gt;
	&lt;description&gt;Proactiveinvestors United Kingdom Prosperity Minerals RSS feed
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	&lt;language&gt;en&lt;/language&gt;
	&lt;pubDate&gt;Wed, 23 May 2012 23:05:19 +0100&lt;/pubDate&gt;
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		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian deal now expected to complete in July ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital (AWC) has been delayed until the end of July.&lt;/p&gt;
&lt;p&gt;PIHL, Prosperity&amp;rsquo;s majority shareholder has told it that a circular to independent shareholders will be delayed until June as work on the competent person&amp;rsquo;s and independent valuation reports is still ongoing.&lt;/p&gt;
&lt;p&gt;&amp;ldquo;This means that completion, if it were to occur, is likely to be in late July,&amp;rdquo; Prosperity said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced a deal to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC also owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines. It also owns a processing plant in Malaysia adjacent to the mines.&lt;/p&gt;
&lt;p&gt;In March, Prosperity&amp;rsquo;s independent directors said they wanted to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 30 Apr 2012 15:07:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Announcement re: Investment in All Wealthy Capital ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 30 Apr 2012 14:00:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Holdings in Company ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 03 Apr 2012 09:30:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian iron deal pushed back ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital has been delayed until May.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s independent directors said they want to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;p&gt;The independent directors also said they need to be sure that the pro-forma net asset value of All Wealthy (AWC) is not materially less than US$500 million.&lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; parent company is Hong Kong-listed and the time needed to prepare a report for the HK authorities and hold an independent shareholders&#039; meeting means completion is now likely to be in late May 2012, it said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced it had agreed to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines.&lt;/p&gt;
&lt;p&gt;It also owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per annum.&lt;/p&gt;
&lt;p&gt;The deal includes an option for Prosperity to buy 9.5 million tonnes of iron ore from AWC over a 10 year period at a discount to the prevailing market price.&lt;/p&gt;
&lt;p&gt;The intention is to list AWC on the HK stock exchange within two years, but if this does not happen Prosperity can ask for its investment back.&lt;/p&gt;
&lt;p&gt;The valuation of US$500 million placed was based largely on an investment of US$50 million for a 10 per cent stake in AWC by Nanjing Steel, one of the largest steel mill operators in China, Prosperity added.&lt;/p&gt;
&lt;p&gt;Shares rose 4.5p to 79p.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 11:45:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed investment - additional information ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 09:00:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to invest in Malaysian iron ore operation ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is to invest in an iron ore company, which owns 70 per cent of the mining rights in two Malaysian mines, for a total of US$25 million.&lt;br /&gt;&lt;br /&gt;The company announced the conditional sale and purchase agreement to acquire a 5 per cent stake in All Wealthy Capital Ltd.&lt;br /&gt;&lt;br /&gt;The deal also involves an offtake agreement upon the acquisition&amp;rsquo;s completion. Prosperity will then secure the right to buy 9.5 million tonnes of iron ore over a 10 year period at a discount to the prevailing market price.&lt;br /&gt;&lt;br /&gt;The proposed investment in All Wealthy and the offtake-agreement is in line with the company&#039;s strategy to continue to increase its investment in iron ore resources and to expand access to sources of iron ore at competitive prices for sale to end users in China.&lt;br /&gt;&lt;br /&gt;Prosperity&#039;s 100 per cent subsidiary, Pro-Rise entered into the sale and purchase agreement with Elite Force, which owns an 80 per cent interest in All Wealthy.&lt;br /&gt;&lt;br /&gt;Elite Force is 100 per cent owned by chairman and CEO of Prosperity, David Wong. After completion of the deal, Prosperity will hold a 3.5 per cent stake in a Malaysian iron ore operation. &lt;br /&gt;&lt;br /&gt;As well as 70 per cent of mining rights, All Wealthy owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per year.&lt;br /&gt;&lt;br /&gt;Prosperity will pay US$7 million, or around &amp;pound;4.4 million, as a&amp;nbsp; refundable deposit by February 15 this year 2012 with the balance of US$18 million, or around &amp;pound;11.3 million, due upon completion.&lt;br /&gt;&lt;br /&gt;The acquisition is expected to be finished by the end of March this year, subject to all regulatory approvals, including shareholder approval.&lt;br /&gt;&lt;br /&gt;Under an agreement with Prosperity International Holdings Ltd (PIHL) last month, in which it paid US$6 million as a refundable deposit, Prosperity has the option to participate in the acquisition of further interests in All Wealthy alongside PIHL, the firm added.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 10:19:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed Investment ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 09:07:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals encouraged by first apartment sales at Guangzhou City development ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) said it made the first presales of residential units at the Oriental Landmark development, Guangzhou City, on December 25 2011.&lt;br /&gt;&lt;br /&gt;Of the 184 units put up for sale, 79 were sold in the first two weeks up to January 8 2012. &amp;ldquo;This is encouraging with both prices and results in line with the company&#039;s expectations,&amp;rdquo; it told investors.&lt;br /&gt;&lt;br /&gt;The company continues to monitor prevailing market conditions to determine presale schedules and prices for units in the remaining three residential blocks and expects presales of all four residential blocks to have commenced by the end of 2012.&lt;br /&gt;&lt;br /&gt;Prosperity is focused on real estate ownership and development in China, and is invested in two cement manufacturers in the country.&amp;nbsp; It announced in September 2010 that it was selling its iron ore trading business or US$38.6 million to its controlling shareholder, Prosperity International Holdings, so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;Prosperity acquired the Oriental Landmark property development project, previously referred to as Dongfang Wende Plaza, in August 2010. &lt;br /&gt;&lt;br /&gt;Since acquisition, the company has incurred some additional construction costs, administrative expenses and taxes. Nonetheless, based on current presale results and market conditions, management expects a good return on the sale of the residential units in this development, it said.&lt;br /&gt;&amp;nbsp;&lt;br /&gt;Chairman and chief executive David Wong: &quot;Current presale results reflect the strong demand for high end residential property in downtown Guangzhou City. I believe presales from all the residential units, once completed, will provide the company with a good return and that rental income from the commercial units will provide long term recurring income.&quot;&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 10:04:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Trading Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 09:06:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals is &quot;significantly undervalued&quot;, says Daniel Stewart ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is &#039;significantly undervalued&#039;, says broker &lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt;, which rates the stock a &#039;buy&#039; and targets a price of 211 pence (current price: 87 pence).&lt;br /&gt;&lt;br /&gt;The firm, an iron ore trading business serving the People&#039;s Republic of China (PRC), is also a real estate owner and developer, and is invested in two cement manufacturers in the PRC.&lt;br /&gt;&lt;br /&gt;In September this year, the group unveiled plans to sell its iron trading business for US$38.6 million to its controlling shareholder, Prosperity International Holdings so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; analyst Simon Wills, in a wide- ranging note, said that the firm&#039;s share price had fallen sharply since the middle of the year.&lt;br /&gt;&lt;br /&gt;This had been caused, he said, partly on fears of slowdown in China and a property bubble and more recently due to uncertainty created by the proposal to sell the firm&#039;s iron ore business.&lt;br /&gt;&lt;br /&gt;&quot;This has resulted in a situation where the stake in Anhui Chaodong Cement (ACC) now accounts for almost the whole of the group&#039;s market cap,&quot; said the analyst.&lt;br /&gt;&lt;br /&gt;Wills said the Firm&#039;s ACC stake was now worth 70 pence, or 80 per cent of Prosperity&#039;s share price and the iron ore operations were valued by the broker at 7 pence per share.&lt;br /&gt;&lt;br /&gt;Thus, he said: &quot;The Real Estate business is in the price almost for free.&quot;&lt;br /&gt;&lt;br /&gt;He added: &quot;Our target price of 211p suggests the stock offers upside of 140 per cent. Even if Real Estate is valued on a 50 per cent discount to our estimate, the upside is 56 per cent.&quot;&lt;br /&gt;&lt;br /&gt;The firm&#039;s current valuation looked &quot;churlish to say the least&quot; said the analyst, who added that he looked towards news of pre sales at commercial and residential development Orient Landmark to pull the positive trigger.&lt;br /&gt;&lt;br /&gt;Last year, the firm bought&amp;nbsp; Bliss Hero for HK$836 million, which holds interests in an existing commercial building - SilverBay Plaza and a new commercial and residential development - Oriental Landmark - in Guangzhou City in Guangdong Province.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 02 Dec 2011 13:24:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals sees increase in revenues and profits ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Chinese iron ore trading and cement business &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) boosted its first-half revenues by 17 per cent to US$507.8 million while producing a pre-tax profit of US$8.4 million (H1 2011: US$2.5 million loss), the firm said today.&lt;/p&gt;
&lt;p&gt;Reporting its interim results for the six months to September 30, Prosperity said that while the firm increased the amount of iron ore shipped during the first half to 2.8 million tonnes, from 2.7 million tonnes in H1 2011, its revenue increase was also due to higher average selling prices. However, the operating profit per tonne came in lower at US$3.6 million (H1 2011: US$6.6 million) because, the firm said, margins continue to come under pressure due to the abandonment of the industry&amp;rsquo;s annual price fixing and greater direct trade between miners and steel mills.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s cement operations produced an attributable profit of US$8.7 million, compared to a loss of US$0.6 million in H1 2011. The firm said that its 33 per cent-owned Anhui Chaodong Cement business produced and sold more cement and clinker as demand in its region was strong and average selling prices higher. The 16.1 per cent-owned TCC Liaoyang business produced an operating profit of US$0.2 million, but it ended up contributing a loss of US$1.9 million (H1 2011: US$0.04 million) due to as loss on demand disposal of US$2.1 million caused by a share issuance in August.&lt;/p&gt;
&lt;p&gt;Prosperity said that its real estate development projects business made a loss of US$3.5 million, compared to a US$0.6 million profit in H1 2011.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;&amp;ldquo;I remain confident that the company will continue to trade well in both iron ore and real estate despite challenging market conditions brought about by an unsettled iron ore market and Chinese government policy, together with continuing global economic uncertainties,&amp;rdquo; said David Wong, Prosperity&amp;rsquo;s chairman and chief executive officer.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s share price was down 1.8 per cent at 82 pence in early trading today.&lt;/p&gt;
&lt;div&gt;&lt;br /&gt;&lt;/div&gt;
&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 10:01:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Interim Results ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 08:32:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals agrees new iron ore supply deal ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Prosperity Minerals (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) today announced that its wholly-owned iron trading subsidiary has signed a new deal.&lt;/p&gt;
&lt;p&gt;Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore over a 14 month period.&lt;/p&gt;
&lt;p&gt;This will be capped at 130,000 tonnes to the end of 2011, and 1.68 million tonnes in 2012.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will also provide a range of administrative services, including the handling of shipping documents and liaising with payment banks. &amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will receive a commission of US$2 per dry metric tonne of iron ore.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;It will also receive a handling charge of US$2 per dry tonne of iron ore, if the letter of credit in relation to shipment includes payment terms of 90 days.&lt;/p&gt;
&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 09:21:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - PMMC Enters into Iron Ore Agency Agreement ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 08:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/guid&gt;
		&lt;/item&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Notice of Interim Results and Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Thu, 10 Nov 2011 13:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/guid&gt;
		&lt;/item&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings loans $10mln to iron ore joint venture ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; today loaned a further US$10 million to its part-owned business Globest Participaceos (GPL), taking the amount of total loans to the company to US$22.8 million.&lt;br /&gt;&lt;br /&gt;Prosperity holds a 35 percent interest in United Goalink Limited (UGL), a joint venture company involved in the exploration and production of iron ore in Brazil. GPL is an indirect subsidiary of UGL, which holds 602.3 square kilometres of exploration rights and 3.01 square kilometres of mining concessions in Brazil.&lt;br /&gt;&lt;br /&gt;UGL will use the funds to set up an iron ore processing plant, upgrade facilities and cover other operational expenses.&lt;br /&gt;&lt;br /&gt;These upgrades are expected to increase production volume and quality, bringing enhanced profit and cashflow to Prosperity Minerals.&lt;br /&gt;&lt;br /&gt;Of this, US$8.6 million should be repaid until 24 January 2012 and a further US$1.4 million has to be repaid by the end of August 2013.&lt;br /&gt;&lt;br /&gt;The balance is to be repaid upon written demand in two tranches of US$2.8 million and US$10 million by August 29 2013 and end October 2013 respectively.&lt;br /&gt;&lt;br /&gt;In the period between January and August this year, Prosperity loaned US$12.8 million to GPL at an annual interest rate of 8 percent.&lt;br /&gt;&lt;br /&gt;A month ago, Prosperity changes its plans to sell its Chinese iron trading business for US$38.6 million to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, a number of independent shareholders, representing a significant shareholding in Prosperity, said they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;This morning, shares in Prosperity fell 1 percent to trade at 92 pence, giving the company a market cap of &amp;pound;132 million.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 31 Oct 2011 10:45:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html&lt;/guid&gt;
		&lt;/item&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Loan Transactions ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 31 Oct 2011 09:04:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings signs new relationship deed with controlling shareholder ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; has signed a new relationship deed with Prosperity International Holdings (PIHL), enabling PMHL to carry its business independently of control from its largest shareholder.&lt;br /&gt;&lt;br /&gt;The new relationship deed, which will regulate the conduct of the relationship between PMHL and its controlling shareholder PIHL, replaces a similar agreement between the companies signed at the time of Prosperity&amp;rsquo;s flotation on the AIM market in 2006.&lt;br /&gt;&lt;br /&gt;Under the terms of the new agreement, all transactions between PIHL, Prosperity Minerals and any of its subsidiaries will be carried out &amp;ldquo;at arm&#039;s length and on a normal commercial basis&amp;rdquo; and free of the control that PIHL would have otherwise been able to exercise through its shareholding.&lt;br /&gt;&lt;br /&gt;In particular, PIHL has agreed not to influence any director of PMHL and its subsidiaries regarding their day to day operations.&lt;br /&gt;&lt;br /&gt;Prosperity Minerals operates as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;PIHL became the controlling shareholder of Prosperity in August 2009 and currently holds a 64.07 percent interest in the company.&lt;br /&gt;&lt;br /&gt;Co-founder, chairman and chief executive of Prosperity Minerals David Wong holds a total 64.11 percent interest in PIHL.&lt;br /&gt;&lt;br /&gt;The relationship deed will terminate when the aggregate shareholding of PIHL and its associates falls below 30 per cent of the shares of the company.&lt;br /&gt;&lt;br /&gt;The new agreement came less than a month after Prosperity Minerals changed its plans to sell its Chinese iron trading business to PIHL for US$38.6 million after being informed by its independent shareholders that they would &amp;ldquo;very much like&amp;rdquo; to retain the unit.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 26 Oct 2011 10:44:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Relationship Deed ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 26 Oct 2011 09:47:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to retain iron trading business ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;Prosperity Minerals Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;&lt;/a&gt;) has revealed a u-turn in its plan to sell its Chinese iron trading business.&lt;br /&gt;&lt;br /&gt;Earlier this month the company unveiled a US$38.6 million deal to sell its iron trading business to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, today Prosperity said that it has been informed by a number of independent shareholders, representing a significant shareholding in Prosperity, that they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Consequently Prosperity has decided that it will not pursue the disposal at this time. This also means that the company&amp;rsquo;s proposed special dividend &amp;ndash; which would have been the second this year &amp;ndash; will not go ahead either.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;&quot;I remain confident about sustained and strong demand for iron ore in the PRC and Prosperity will continue to develop and enhance its iron ore business together with real estate. I look forward with confidence,&quot; said chairman and chief executive David Wong.&lt;/p&gt;
&lt;p&gt;&amp;nbsp;&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 30 Sep 2011 13:25:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html&lt;/guid&gt;
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	&lt;title&gt;Proactiveinvestors United Kingdom Prosperity Minerals&lt;/title&gt;
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	&lt;pubDate&gt;Wed, 23 May 2012 23:05:19 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian deal now expected to complete in July ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital (AWC) has been delayed until the end of July.&lt;/p&gt;
&lt;p&gt;PIHL, Prosperity&amp;rsquo;s majority shareholder has told it that a circular to independent shareholders will be delayed until June as work on the competent person&amp;rsquo;s and independent valuation reports is still ongoing.&lt;/p&gt;
&lt;p&gt;&amp;ldquo;This means that completion, if it were to occur, is likely to be in late July,&amp;rdquo; Prosperity said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced a deal to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC also owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines. It also owns a processing plant in Malaysia adjacent to the mines.&lt;/p&gt;
&lt;p&gt;In March, Prosperity&amp;rsquo;s independent directors said they wanted to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 30 Apr 2012 15:07:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Announcement re: Investment in All Wealthy Capital ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 30 Apr 2012 14:00:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Holdings in Company ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 03 Apr 2012 09:30:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian iron deal pushed back ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital has been delayed until May.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s independent directors said they want to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;p&gt;The independent directors also said they need to be sure that the pro-forma net asset value of All Wealthy (AWC) is not materially less than US$500 million.&lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; parent company is Hong Kong-listed and the time needed to prepare a report for the HK authorities and hold an independent shareholders&#039; meeting means completion is now likely to be in late May 2012, it said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced it had agreed to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines.&lt;/p&gt;
&lt;p&gt;It also owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per annum.&lt;/p&gt;
&lt;p&gt;The deal includes an option for Prosperity to buy 9.5 million tonnes of iron ore from AWC over a 10 year period at a discount to the prevailing market price.&lt;/p&gt;
&lt;p&gt;The intention is to list AWC on the HK stock exchange within two years, but if this does not happen Prosperity can ask for its investment back.&lt;/p&gt;
&lt;p&gt;The valuation of US$500 million placed was based largely on an investment of US$50 million for a 10 per cent stake in AWC by Nanjing Steel, one of the largest steel mill operators in China, Prosperity added.&lt;/p&gt;
&lt;p&gt;Shares rose 4.5p to 79p.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 11:45:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed investment - additional information ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 09:00:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to invest in Malaysian iron ore operation ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is to invest in an iron ore company, which owns 70 per cent of the mining rights in two Malaysian mines, for a total of US$25 million.&lt;br /&gt;&lt;br /&gt;The company announced the conditional sale and purchase agreement to acquire a 5 per cent stake in All Wealthy Capital Ltd.&lt;br /&gt;&lt;br /&gt;The deal also involves an offtake agreement upon the acquisition&amp;rsquo;s completion. Prosperity will then secure the right to buy 9.5 million tonnes of iron ore over a 10 year period at a discount to the prevailing market price.&lt;br /&gt;&lt;br /&gt;The proposed investment in All Wealthy and the offtake-agreement is in line with the company&#039;s strategy to continue to increase its investment in iron ore resources and to expand access to sources of iron ore at competitive prices for sale to end users in China.&lt;br /&gt;&lt;br /&gt;Prosperity&#039;s 100 per cent subsidiary, Pro-Rise entered into the sale and purchase agreement with Elite Force, which owns an 80 per cent interest in All Wealthy.&lt;br /&gt;&lt;br /&gt;Elite Force is 100 per cent owned by chairman and CEO of Prosperity, David Wong. After completion of the deal, Prosperity will hold a 3.5 per cent stake in a Malaysian iron ore operation. &lt;br /&gt;&lt;br /&gt;As well as 70 per cent of mining rights, All Wealthy owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per year.&lt;br /&gt;&lt;br /&gt;Prosperity will pay US$7 million, or around &amp;pound;4.4 million, as a&amp;nbsp; refundable deposit by February 15 this year 2012 with the balance of US$18 million, or around &amp;pound;11.3 million, due upon completion.&lt;br /&gt;&lt;br /&gt;The acquisition is expected to be finished by the end of March this year, subject to all regulatory approvals, including shareholder approval.&lt;br /&gt;&lt;br /&gt;Under an agreement with Prosperity International Holdings Ltd (PIHL) last month, in which it paid US$6 million as a refundable deposit, Prosperity has the option to participate in the acquisition of further interests in All Wealthy alongside PIHL, the firm added.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 10:19:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed Investment ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 09:07:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals encouraged by first apartment sales at Guangzhou City development ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) said it made the first presales of residential units at the Oriental Landmark development, Guangzhou City, on December 25 2011.&lt;br /&gt;&lt;br /&gt;Of the 184 units put up for sale, 79 were sold in the first two weeks up to January 8 2012. &amp;ldquo;This is encouraging with both prices and results in line with the company&#039;s expectations,&amp;rdquo; it told investors.&lt;br /&gt;&lt;br /&gt;The company continues to monitor prevailing market conditions to determine presale schedules and prices for units in the remaining three residential blocks and expects presales of all four residential blocks to have commenced by the end of 2012.&lt;br /&gt;&lt;br /&gt;Prosperity is focused on real estate ownership and development in China, and is invested in two cement manufacturers in the country.&amp;nbsp; It announced in September 2010 that it was selling its iron ore trading business or US$38.6 million to its controlling shareholder, Prosperity International Holdings, so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;Prosperity acquired the Oriental Landmark property development project, previously referred to as Dongfang Wende Plaza, in August 2010. &lt;br /&gt;&lt;br /&gt;Since acquisition, the company has incurred some additional construction costs, administrative expenses and taxes. Nonetheless, based on current presale results and market conditions, management expects a good return on the sale of the residential units in this development, it said.&lt;br /&gt;&amp;nbsp;&lt;br /&gt;Chairman and chief executive David Wong: &quot;Current presale results reflect the strong demand for high end residential property in downtown Guangzhou City. I believe presales from all the residential units, once completed, will provide the company with a good return and that rental income from the commercial units will provide long term recurring income.&quot;&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 10:04:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Trading Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 09:06:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals is &quot;significantly undervalued&quot;, says Daniel Stewart ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is &#039;significantly undervalued&#039;, says broker &lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt;, which rates the stock a &#039;buy&#039; and targets a price of 211 pence (current price: 87 pence).&lt;br /&gt;&lt;br /&gt;The firm, an iron ore trading business serving the People&#039;s Republic of China (PRC), is also a real estate owner and developer, and is invested in two cement manufacturers in the PRC.&lt;br /&gt;&lt;br /&gt;In September this year, the group unveiled plans to sell its iron trading business for US$38.6 million to its controlling shareholder, Prosperity International Holdings so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; analyst Simon Wills, in a wide- ranging note, said that the firm&#039;s share price had fallen sharply since the middle of the year.&lt;br /&gt;&lt;br /&gt;This had been caused, he said, partly on fears of slowdown in China and a property bubble and more recently due to uncertainty created by the proposal to sell the firm&#039;s iron ore business.&lt;br /&gt;&lt;br /&gt;&quot;This has resulted in a situation where the stake in Anhui Chaodong Cement (ACC) now accounts for almost the whole of the group&#039;s market cap,&quot; said the analyst.&lt;br /&gt;&lt;br /&gt;Wills said the Firm&#039;s ACC stake was now worth 70 pence, or 80 per cent of Prosperity&#039;s share price and the iron ore operations were valued by the broker at 7 pence per share.&lt;br /&gt;&lt;br /&gt;Thus, he said: &quot;The Real Estate business is in the price almost for free.&quot;&lt;br /&gt;&lt;br /&gt;He added: &quot;Our target price of 211p suggests the stock offers upside of 140 per cent. Even if Real Estate is valued on a 50 per cent discount to our estimate, the upside is 56 per cent.&quot;&lt;br /&gt;&lt;br /&gt;The firm&#039;s current valuation looked &quot;churlish to say the least&quot; said the analyst, who added that he looked towards news of pre sales at commercial and residential development Orient Landmark to pull the positive trigger.&lt;br /&gt;&lt;br /&gt;Last year, the firm bought&amp;nbsp; Bliss Hero for HK$836 million, which holds interests in an existing commercial building - SilverBay Plaza and a new commercial and residential development - Oriental Landmark - in Guangzhou City in Guangdong Province.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 02 Dec 2011 13:24:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals sees increase in revenues and profits ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Chinese iron ore trading and cement business &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) boosted its first-half revenues by 17 per cent to US$507.8 million while producing a pre-tax profit of US$8.4 million (H1 2011: US$2.5 million loss), the firm said today.&lt;/p&gt;
&lt;p&gt;Reporting its interim results for the six months to September 30, Prosperity said that while the firm increased the amount of iron ore shipped during the first half to 2.8 million tonnes, from 2.7 million tonnes in H1 2011, its revenue increase was also due to higher average selling prices. However, the operating profit per tonne came in lower at US$3.6 million (H1 2011: US$6.6 million) because, the firm said, margins continue to come under pressure due to the abandonment of the industry&amp;rsquo;s annual price fixing and greater direct trade between miners and steel mills.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s cement operations produced an attributable profit of US$8.7 million, compared to a loss of US$0.6 million in H1 2011. The firm said that its 33 per cent-owned Anhui Chaodong Cement business produced and sold more cement and clinker as demand in its region was strong and average selling prices higher. The 16.1 per cent-owned TCC Liaoyang business produced an operating profit of US$0.2 million, but it ended up contributing a loss of US$1.9 million (H1 2011: US$0.04 million) due to as loss on demand disposal of US$2.1 million caused by a share issuance in August.&lt;/p&gt;
&lt;p&gt;Prosperity said that its real estate development projects business made a loss of US$3.5 million, compared to a US$0.6 million profit in H1 2011.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;&amp;ldquo;I remain confident that the company will continue to trade well in both iron ore and real estate despite challenging market conditions brought about by an unsettled iron ore market and Chinese government policy, together with continuing global economic uncertainties,&amp;rdquo; said David Wong, Prosperity&amp;rsquo;s chairman and chief executive officer.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s share price was down 1.8 per cent at 82 pence in early trading today.&lt;/p&gt;
&lt;div&gt;&lt;br /&gt;&lt;/div&gt;
&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 10:01:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Interim Results ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 08:32:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals agrees new iron ore supply deal ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Prosperity Minerals (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) today announced that its wholly-owned iron trading subsidiary has signed a new deal.&lt;/p&gt;
&lt;p&gt;Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore over a 14 month period.&lt;/p&gt;
&lt;p&gt;This will be capped at 130,000 tonnes to the end of 2011, and 1.68 million tonnes in 2012.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will also provide a range of administrative services, including the handling of shipping documents and liaising with payment banks. &amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will receive a commission of US$2 per dry metric tonne of iron ore.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;It will also receive a handling charge of US$2 per dry tonne of iron ore, if the letter of credit in relation to shipment includes payment terms of 90 days.&lt;/p&gt;
&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 09:21:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - PMMC Enters into Iron Ore Agency Agreement ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 08:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Notice of Interim Results and Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Thu, 10 Nov 2011 13:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings loans $10mln to iron ore joint venture ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; today loaned a further US$10 million to its part-owned business Globest Participaceos (GPL), taking the amount of total loans to the company to US$22.8 million.&lt;br /&gt;&lt;br /&gt;Prosperity holds a 35 percent interest in United Goalink Limited (UGL), a joint venture company involved in the exploration and production of iron ore in Brazil. GPL is an indirect subsidiary of UGL, which holds 602.3 square kilometres of exploration rights and 3.01 square kilometres of mining concessions in Brazil.&lt;br /&gt;&lt;br /&gt;UGL will use the funds to set up an iron ore processing plant, upgrade facilities and cover other operational expenses.&lt;br /&gt;&lt;br /&gt;These upgrades are expected to increase production volume and quality, bringing enhanced profit and cashflow to Prosperity Minerals.&lt;br /&gt;&lt;br /&gt;Of this, US$8.6 million should be repaid until 24 January 2012 and a further US$1.4 million has to be repaid by the end of August 2013.&lt;br /&gt;&lt;br /&gt;The balance is to be repaid upon written demand in two tranches of US$2.8 million and US$10 million by August 29 2013 and end October 2013 respectively.&lt;br /&gt;&lt;br /&gt;In the period between January and August this year, Prosperity loaned US$12.8 million to GPL at an annual interest rate of 8 percent.&lt;br /&gt;&lt;br /&gt;A month ago, Prosperity changes its plans to sell its Chinese iron trading business for US$38.6 million to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, a number of independent shareholders, representing a significant shareholding in Prosperity, said they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;This morning, shares in Prosperity fell 1 percent to trade at 92 pence, giving the company a market cap of &amp;pound;132 million.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 31 Oct 2011 10:45:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Loan Transactions ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 31 Oct 2011 09:04:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings signs new relationship deed with controlling shareholder ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; has signed a new relationship deed with Prosperity International Holdings (PIHL), enabling PMHL to carry its business independently of control from its largest shareholder.&lt;br /&gt;&lt;br /&gt;The new relationship deed, which will regulate the conduct of the relationship between PMHL and its controlling shareholder PIHL, replaces a similar agreement between the companies signed at the time of Prosperity&amp;rsquo;s flotation on the AIM market in 2006.&lt;br /&gt;&lt;br /&gt;Under the terms of the new agreement, all transactions between PIHL, Prosperity Minerals and any of its subsidiaries will be carried out &amp;ldquo;at arm&#039;s length and on a normal commercial basis&amp;rdquo; and free of the control that PIHL would have otherwise been able to exercise through its shareholding.&lt;br /&gt;&lt;br /&gt;In particular, PIHL has agreed not to influence any director of PMHL and its subsidiaries regarding their day to day operations.&lt;br /&gt;&lt;br /&gt;Prosperity Minerals operates as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;PIHL became the controlling shareholder of Prosperity in August 2009 and currently holds a 64.07 percent interest in the company.&lt;br /&gt;&lt;br /&gt;Co-founder, chairman and chief executive of Prosperity Minerals David Wong holds a total 64.11 percent interest in PIHL.&lt;br /&gt;&lt;br /&gt;The relationship deed will terminate when the aggregate shareholding of PIHL and its associates falls below 30 per cent of the shares of the company.&lt;br /&gt;&lt;br /&gt;The new agreement came less than a month after Prosperity Minerals changed its plans to sell its Chinese iron trading business to PIHL for US$38.6 million after being informed by its independent shareholders that they would &amp;ldquo;very much like&amp;rdquo; to retain the unit.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 26 Oct 2011 10:44:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Relationship Deed ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 26 Oct 2011 09:47:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to retain iron trading business ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;Prosperity Minerals Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;&lt;/a&gt;) has revealed a u-turn in its plan to sell its Chinese iron trading business.&lt;br /&gt;&lt;br /&gt;Earlier this month the company unveiled a US$38.6 million deal to sell its iron trading business to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, today Prosperity said that it has been informed by a number of independent shareholders, representing a significant shareholding in Prosperity, that they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Consequently Prosperity has decided that it will not pursue the disposal at this time. This also means that the company&amp;rsquo;s proposed special dividend &amp;ndash; which would have been the second this year &amp;ndash; will not go ahead either.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;&quot;I remain confident about sustained and strong demand for iron ore in the PRC and Prosperity will continue to develop and enhance its iron ore business together with real estate. I look forward with confidence,&quot; said chairman and chief executive David Wong.&lt;/p&gt;
&lt;p&gt;&amp;nbsp;&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 30 Sep 2011 13:25:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html&lt;/guid&gt;
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	"id" => "42145",
	"title" => "News - Prosperity Minerals&#039; Malaysian deal now expected to complete in July",
	"pubdate" => "2012-04-30 15:07:00",
	"seftitle" => "prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html",
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&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital (AWC) has been delayed until the end of July.&lt;/p&gt;
&lt;p&gt;PIHL, Prosperity&amp;rsquo;s majority shareholder has told it that a circular to independent shareholders will be delayed until June as work on the competent person&amp;rsquo;s and independent valuation reports is still ongoing.&lt;/p&gt;
&lt;p&gt;&amp;ldquo;This means that completion, if it were to occur, is likely to be in late July,&amp;rdquo; Prosperity said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced a deal to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC also owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines. It also owns a processing plant in Malaysia adjacent to the mines.&lt;/p&gt;
&lt;p&gt;In March, Prosperity&amp;rsquo;s independent directors said they wanted to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
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	array(
	"id" => "120430pmhl3427c",
	"title" => "RNS press release - Announcement re: Investment in All Wealthy Capital",
	"pubdate" => "2012-04-30 14:00:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/"
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	"title" => "RNS press release - Holdings in Company",
	"pubdate" => "2012-04-03 09:30:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/"
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	array(
	"id" => "39916",
	"title" => "News - Prosperity Minerals&#039; Malaysian iron deal pushed back",
	"pubdate" => "2012-03-07 11:45:00",
	"seftitle" => "prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital has been delayed until May.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s independent directors said they want to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;p&gt;The independent directors also said they need to be sure that the pro-forma net asset value of All Wealthy (AWC) is not materially less than US$500 million.&lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; parent company is Hong Kong-listed and the time needed to prepare a report for the HK authorities and hold an independent shareholders&#039; meeting means completion is now likely to be in late May 2012, it said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced it had agreed to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines.&lt;/p&gt;
&lt;p&gt;It also owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per annum.&lt;/p&gt;
&lt;p&gt;The deal includes an option for Prosperity to buy 9.5 million tonnes of iron ore from AWC over a 10 year period at a discount to the prevailing market price.&lt;/p&gt;
&lt;p&gt;The intention is to list AWC on the HK stock exchange within two years, but if this does not happen Prosperity can ask for its investment back.&lt;/p&gt;
&lt;p&gt;The valuation of US$500 million placed was based largely on an investment of US$50 million for a 10 per cent stake in AWC by Nanjing Steel, one of the largest steel mill operators in China, Prosperity added.&lt;/p&gt;
&lt;p&gt;Shares rose 4.5p to 79p.&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html"
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	array(
	"id" => "120307pmhl8551y",
	"title" => "RNS press release - Proposed investment - additional information",
	"pubdate" => "2012-03-07 09:00:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/"
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	array(
	"id" => "38832",
	"title" => "News - Prosperity Minerals to invest in Malaysian iron ore operation",
	"pubdate" => "2012-02-10 10:19:00",
	"seftitle" => "prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is to invest in an iron ore company, which owns 70 per cent of the mining rights in two Malaysian mines, for a total of US$25 million.&lt;br /&gt;&lt;br /&gt;The company announced the conditional sale and purchase agreement to acquire a 5 per cent stake in All Wealthy Capital Ltd.&lt;br /&gt;&lt;br /&gt;The deal also involves an offtake agreement upon the acquisition&amp;rsquo;s completion. Prosperity will then secure the right to buy 9.5 million tonnes of iron ore over a 10 year period at a discount to the prevailing market price.&lt;br /&gt;&lt;br /&gt;The proposed investment in All Wealthy and the offtake-agreement is in line with the company&#039;s strategy to continue to increase its investment in iron ore resources and to expand access to sources of iron ore at competitive prices for sale to end users in China.&lt;br /&gt;&lt;br /&gt;Prosperity&#039;s 100 per cent subsidiary, Pro-Rise entered into the sale and purchase agreement with Elite Force, which owns an 80 per cent interest in All Wealthy.&lt;br /&gt;&lt;br /&gt;Elite Force is 100 per cent owned by chairman and CEO of Prosperity, David Wong. After completion of the deal, Prosperity will hold a 3.5 per cent stake in a Malaysian iron ore operation. &lt;br /&gt;&lt;br /&gt;As well as 70 per cent of mining rights, All Wealthy owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per year.&lt;br /&gt;&lt;br /&gt;Prosperity will pay US$7 million, or around &amp;pound;4.4 million, as a&amp;nbsp; refundable deposit by February 15 this year 2012 with the balance of US$18 million, or around &amp;pound;11.3 million, due upon completion.&lt;br /&gt;&lt;br /&gt;The acquisition is expected to be finished by the end of March this year, subject to all regulatory approvals, including shareholder approval.&lt;br /&gt;&lt;br /&gt;Under an agreement with Prosperity International Holdings Ltd (PIHL) last month, in which it paid US$6 million as a refundable deposit, Prosperity has the option to participate in the acquisition of further interests in All Wealthy alongside PIHL, the firm added.&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html"
),
	array(
	"id" => "120210pmhl1911x",
	"title" => "RNS press release - Proposed Investment",
	"pubdate" => "2012-02-10 09:07:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/"
),
	array(
	"id" => "37587",
	"title" => "News - Prosperity Minerals encouraged by first apartment sales at Guangzhou City development",
	"pubdate" => "2012-01-09 10:04:00",
	"seftitle" => "prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) said it made the first presales of residential units at the Oriental Landmark development, Guangzhou City, on December 25 2011.&lt;br /&gt;&lt;br /&gt;Of the 184 units put up for sale, 79 were sold in the first two weeks up to January 8 2012. &amp;ldquo;This is encouraging with both prices and results in line with the company&#039;s expectations,&amp;rdquo; it told investors.&lt;br /&gt;&lt;br /&gt;The company continues to monitor prevailing market conditions to determine presale schedules and prices for units in the remaining three residential blocks and expects presales of all four residential blocks to have commenced by the end of 2012.&lt;br /&gt;&lt;br /&gt;Prosperity is focused on real estate ownership and development in China, and is invested in two cement manufacturers in the country.&amp;nbsp; It announced in September 2010 that it was selling its iron ore trading business or US$38.6 million to its controlling shareholder, Prosperity International Holdings, so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;Prosperity acquired the Oriental Landmark property development project, previously referred to as Dongfang Wende Plaza, in August 2010. &lt;br /&gt;&lt;br /&gt;Since acquisition, the company has incurred some additional construction costs, administrative expenses and taxes. Nonetheless, based on current presale results and market conditions, management expects a good return on the sale of the residential units in this development, it said.&lt;br /&gt;&amp;nbsp;&lt;br /&gt;Chairman and chief executive David Wong: &quot;Current presale results reflect the strong demand for high end residential property in downtown Guangzhou City. I believe presales from all the residential units, once completed, will provide the company with a good return and that rental income from the commercial units will provide long term recurring income.&quot;&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html"
),
	array(
	"id" => "120109pmhl2043v",
	"title" => "RNS press release - Trading Update",
	"pubdate" => "2012-01-09 09:06:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/"
),
	array(
	"id" => "36442",
	"title" => "News - Prosperity Minerals is &quot;significantly undervalued&quot;, says Daniel Stewart",
	"pubdate" => "2011-12-02 13:24:00",
	"seftitle" => "prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is &#039;significantly undervalued&#039;, says broker &lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt;, which rates the stock a &#039;buy&#039; and targets a price of 211 pence (current price: 87 pence).&lt;br /&gt;&lt;br /&gt;The firm, an iron ore trading business serving the People&#039;s Republic of China (PRC), is also a real estate owner and developer, and is invested in two cement manufacturers in the PRC.&lt;br /&gt;&lt;br /&gt;In September this year, the group unveiled plans to sell its iron trading business for US$38.6 million to its controlling shareholder, Prosperity International Holdings so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; analyst Simon Wills, in a wide- ranging note, said that the firm&#039;s share price had fallen sharply since the middle of the year.&lt;br /&gt;&lt;br /&gt;This had been caused, he said, partly on fears of slowdown in China and a property bubble and more recently due to uncertainty created by the proposal to sell the firm&#039;s iron ore business.&lt;br /&gt;&lt;br /&gt;&quot;This has resulted in a situation where the stake in Anhui Chaodong Cement (ACC) now accounts for almost the whole of the group&#039;s market cap,&quot; said the analyst.&lt;br /&gt;&lt;br /&gt;Wills said the Firm&#039;s ACC stake was now worth 70 pence, or 80 per cent of Prosperity&#039;s share price and the iron ore operations were valued by the broker at 7 pence per share.&lt;br /&gt;&lt;br /&gt;Thus, he said: &quot;The Real Estate business is in the price almost for free.&quot;&lt;br /&gt;&lt;br /&gt;He added: &quot;Our target price of 211p suggests the stock offers upside of 140 per cent. Even if Real Estate is valued on a 50 per cent discount to our estimate, the upside is 56 per cent.&quot;&lt;br /&gt;&lt;br /&gt;The firm&#039;s current valuation looked &quot;churlish to say the least&quot; said the analyst, who added that he looked towards news of pre sales at commercial and residential development Orient Landmark to pull the positive trigger.&lt;br /&gt;&lt;br /&gt;Last year, the firm bought&amp;nbsp; Bliss Hero for HK$836 million, which holds interests in an existing commercial building - SilverBay Plaza and a new commercial and residential development - Oriental Landmark - in Guangzhou City in Guangdong Province.&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html"
),
	array(
	"id" => "36256",
	"title" => "News - Prosperity Minerals sees increase in revenues and profits",
	"pubdate" => "2011-11-29 10:01:00",
	"seftitle" => "prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html",
	"description" => "&lt;p&gt;
&lt;p&gt;Chinese iron ore trading and cement business &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) boosted its first-half revenues by 17 per cent to US$507.8 million while producing a pre-tax profit of US$8.4 million (H1 2011: US$2.5 million loss), the firm said today.&lt;/p&gt;
&lt;p&gt;Reporting its interim results for the six months to September 30, Prosperity said that while the firm increased the amount of iron ore shipped during the first half to 2.8 million tonnes, from 2.7 million tonnes in H1 2011, its revenue increase was also due to higher average selling prices. However, the operating profit per tonne came in lower at US$3.6 million (H1 2011: US$6.6 million) because, the firm said, margins continue to come under pressure due to the abandonment of the industry&amp;rsquo;s annual price fixing and greater direct trade between miners and steel mills.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s cement operations produced an attributable profit of US$8.7 million, compared to a loss of US$0.6 million in H1 2011. The firm said that its 33 per cent-owned Anhui Chaodong Cement business produced and sold more cement and clinker as demand in its region was strong and average selling prices higher. The 16.1 per cent-owned TCC Liaoyang business produced an operating profit of US$0.2 million, but it ended up contributing a loss of US$1.9 million (H1 2011: US$0.04 million) due to as loss on demand disposal of US$2.1 million caused by a share issuance in August.&lt;/p&gt;
&lt;p&gt;Prosperity said that its real estate development projects business made a loss of US$3.5 million, compared to a US$0.6 million profit in H1 2011.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;&amp;ldquo;I remain confident that the company will continue to trade well in both iron ore and real estate despite challenging market conditions brought about by an unsettled iron ore market and Chinese government policy, together with continuing global economic uncertainties,&amp;rdquo; said David Wong, Prosperity&amp;rsquo;s chairman and chief executive officer.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s share price was down 1.8 per cent at 82 pence in early trading today.&lt;/p&gt;
&lt;div&gt;&lt;br /&gt;&lt;/div&gt;
&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html"
),
	array(
	"id" => "111129pmhl9486s",
	"title" => "RNS press release - Interim Results",
	"pubdate" => "2011-11-29 08:32:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/"
),
	array(
	"id" => "35624",
	"title" => "News - Prosperity Minerals agrees new iron ore supply deal",
	"pubdate" => "2011-11-15 09:21:00",
	"seftitle" => "prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html",
	"description" => "&lt;p&gt;
&lt;p&gt;Prosperity Minerals (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) today announced that its wholly-owned iron trading subsidiary has signed a new deal.&lt;/p&gt;
&lt;p&gt;Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore over a 14 month period.&lt;/p&gt;
&lt;p&gt;This will be capped at 130,000 tonnes to the end of 2011, and 1.68 million tonnes in 2012.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will also provide a range of administrative services, including the handling of shipping documents and liaising with payment banks. &amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will receive a commission of US$2 per dry metric tonne of iron ore.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;It will also receive a handling charge of US$2 per dry tonne of iron ore, if the letter of credit in relation to shipment includes payment terms of 90 days.&lt;/p&gt;
&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html"
),
	array(
	"id" => "111115pmhl1030s",
	"title" => "RNS press release - PMMC Enters into Iron Ore Agency Agreement",
	"pubdate" => "2011-11-15 08:46:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/"
),
	array(
	"id" => "111110pmhl8836r",
	"title" => "RNS press release - Notice of Interim Results and Update",
	"pubdate" => "2011-11-10 13:46:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/"
),
	array(
	"id" => "34991",
	"title" => "News - Prosperity Minerals Holdings loans $10mln to iron ore joint venture",
	"pubdate" => "2011-10-31 10:45:00",
	"seftitle" => "prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html",
	"description" => "&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; today loaned a further US$10 million to its part-owned business Globest Participaceos (GPL), taking the amount of total loans to the company to US$22.8 million.&lt;br /&gt;&lt;br /&gt;Prosperity holds a 35 percent interest in United Goalink Limited (UGL), a joint venture company involved in the exploration and production of iron ore in Brazil. GPL is an indirect subsidiary of UGL, which holds 602.3 square kilometres of exploration rights and 3.01 square kilometres of mining concessions in Brazil.&lt;br /&gt;&lt;br /&gt;UGL will use the funds to set up an iron ore processing plant, upgrade facilities and cover other operational expenses.&lt;br /&gt;&lt;br /&gt;These upgrades are expected to increase production volume and quality, bringing enhanced profit and cashflow to Prosperity Minerals.&lt;br /&gt;&lt;br /&gt;Of this, US$8.6 million should be repaid until 24 January 2012 and a further US$1.4 million has to be repaid by the end of August 2013.&lt;br /&gt;&lt;br /&gt;The balance is to be repaid upon written demand in two tranches of US$2.8 million and US$10 million by August 29 2013 and end October 2013 respectively.&lt;br /&gt;&lt;br /&gt;In the period between January and August this year, Prosperity loaned US$12.8 million to GPL at an annual interest rate of 8 percent.&lt;br /&gt;&lt;br /&gt;A month ago, Prosperity changes its plans to sell its Chinese iron trading business for US$38.6 million to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, a number of independent shareholders, representing a significant shareholding in Prosperity, said they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;This morning, shares in Prosperity fell 1 percent to trade at 92 pence, giving the company a market cap of &amp;pound;132 million.&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html"
),
	array(
	"id" => "111031pmhl1337r",
	"title" => "RNS press release - Loan Transactions",
	"pubdate" => "2011-10-31 09:04:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/"
),
	array(
	"id" => "34818",
	"title" => "News - Prosperity Minerals Holdings signs new relationship deed with controlling shareholder",
	"pubdate" => "2011-10-26 10:44:00",
	"seftitle" => "prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html",
	"description" => "&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; has signed a new relationship deed with Prosperity International Holdings (PIHL), enabling PMHL to carry its business independently of control from its largest shareholder.&lt;br /&gt;&lt;br /&gt;The new relationship deed, which will regulate the conduct of the relationship between PMHL and its controlling shareholder PIHL, replaces a similar agreement between the companies signed at the time of Prosperity&amp;rsquo;s flotation on the AIM market in 2006.&lt;br /&gt;&lt;br /&gt;Under the terms of the new agreement, all transactions between PIHL, Prosperity Minerals and any of its subsidiaries will be carried out &amp;ldquo;at arm&#039;s length and on a normal commercial basis&amp;rdquo; and free of the control that PIHL would have otherwise been able to exercise through its shareholding.&lt;br /&gt;&lt;br /&gt;In particular, PIHL has agreed not to influence any director of PMHL and its subsidiaries regarding their day to day operations.&lt;br /&gt;&lt;br /&gt;Prosperity Minerals operates as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;PIHL became the controlling shareholder of Prosperity in August 2009 and currently holds a 64.07 percent interest in the company.&lt;br /&gt;&lt;br /&gt;Co-founder, chairman and chief executive of Prosperity Minerals David Wong holds a total 64.11 percent interest in PIHL.&lt;br /&gt;&lt;br /&gt;The relationship deed will terminate when the aggregate shareholding of PIHL and its associates falls below 30 per cent of the shares of the company.&lt;br /&gt;&lt;br /&gt;The new agreement came less than a month after Prosperity Minerals changed its plans to sell its Chinese iron trading business to PIHL for US$38.6 million after being informed by its independent shareholders that they would &amp;ldquo;very much like&amp;rdquo; to retain the unit.&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html"
),
	array(
	"id" => "111026pmhl8663q",
	"title" => "RNS press release - Relationship Deed",
	"pubdate" => "2011-10-26 09:47:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/"
),
	array(
	"id" => "33816",
	"title" => "News - Prosperity Minerals to retain iron trading business",
	"pubdate" => "2011-09-30 13:25:00",
	"seftitle" => "prosperity-minerals-to-retain-iron-trading-business-33816.html",
	"description" => "&lt;p&gt;Prosperity Minerals Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;&lt;/a&gt;) has revealed a u-turn in its plan to sell its Chinese iron trading business.&lt;br /&gt;&lt;br /&gt;Earlier this month the company unveiled a US$38.6 million deal to sell its iron trading business to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, today Prosperity said that it has been informed by a number of independent shareholders, representing a significant shareholding in Prosperity, that they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Consequently Prosperity has decided that it will not pursue the disposal at this time. This also means that the company&amp;rsquo;s proposed special dividend &amp;ndash; which would have been the second this year &amp;ndash; will not go ahead either.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;&quot;I remain confident about sustained and strong demand for iron ore in the PRC and Prosperity will continue to develop and enhance its iron ore business together with real estate. I look forward with confidence,&quot; said chairman and chief executive David Wong.&lt;/p&gt;
&lt;p&gt;&amp;nbsp;&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html"
)
)
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	&lt;title&gt;Proactiveinvestors United Kingdom Prosperity Minerals&lt;/title&gt;
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	&lt;pubDate&gt;Wed, 23 May 2012 23:05:19 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian deal now expected to complete in July ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html&lt;/link&gt;
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&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital (AWC) has been delayed until the end of July.&lt;/p&gt;
&lt;p&gt;PIHL, Prosperity&amp;rsquo;s majority shareholder has told it that a circular to independent shareholders will be delayed until June as work on the competent person&amp;rsquo;s and independent valuation reports is still ongoing.&lt;/p&gt;
&lt;p&gt;&amp;ldquo;This means that completion, if it were to occur, is likely to be in late July,&amp;rdquo; Prosperity said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced a deal to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC also owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines. It also owns a processing plant in Malaysia adjacent to the mines.&lt;/p&gt;
&lt;p&gt;In March, Prosperity&amp;rsquo;s independent directors said they wanted to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 30 Apr 2012 15:07:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Announcement re: Investment in All Wealthy Capital ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 30 Apr 2012 14:00:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Holdings in Company ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 03 Apr 2012 09:30:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian iron deal pushed back ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital has been delayed until May.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s independent directors said they want to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;p&gt;The independent directors also said they need to be sure that the pro-forma net asset value of All Wealthy (AWC) is not materially less than US$500 million.&lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; parent company is Hong Kong-listed and the time needed to prepare a report for the HK authorities and hold an independent shareholders&#039; meeting means completion is now likely to be in late May 2012, it said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced it had agreed to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines.&lt;/p&gt;
&lt;p&gt;It also owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per annum.&lt;/p&gt;
&lt;p&gt;The deal includes an option for Prosperity to buy 9.5 million tonnes of iron ore from AWC over a 10 year period at a discount to the prevailing market price.&lt;/p&gt;
&lt;p&gt;The intention is to list AWC on the HK stock exchange within two years, but if this does not happen Prosperity can ask for its investment back.&lt;/p&gt;
&lt;p&gt;The valuation of US$500 million placed was based largely on an investment of US$50 million for a 10 per cent stake in AWC by Nanjing Steel, one of the largest steel mill operators in China, Prosperity added.&lt;/p&gt;
&lt;p&gt;Shares rose 4.5p to 79p.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 11:45:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed investment - additional information ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 09:00:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to invest in Malaysian iron ore operation ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is to invest in an iron ore company, which owns 70 per cent of the mining rights in two Malaysian mines, for a total of US$25 million.&lt;br /&gt;&lt;br /&gt;The company announced the conditional sale and purchase agreement to acquire a 5 per cent stake in All Wealthy Capital Ltd.&lt;br /&gt;&lt;br /&gt;The deal also involves an offtake agreement upon the acquisition&amp;rsquo;s completion. Prosperity will then secure the right to buy 9.5 million tonnes of iron ore over a 10 year period at a discount to the prevailing market price.&lt;br /&gt;&lt;br /&gt;The proposed investment in All Wealthy and the offtake-agreement is in line with the company&#039;s strategy to continue to increase its investment in iron ore resources and to expand access to sources of iron ore at competitive prices for sale to end users in China.&lt;br /&gt;&lt;br /&gt;Prosperity&#039;s 100 per cent subsidiary, Pro-Rise entered into the sale and purchase agreement with Elite Force, which owns an 80 per cent interest in All Wealthy.&lt;br /&gt;&lt;br /&gt;Elite Force is 100 per cent owned by chairman and CEO of Prosperity, David Wong. After completion of the deal, Prosperity will hold a 3.5 per cent stake in a Malaysian iron ore operation. &lt;br /&gt;&lt;br /&gt;As well as 70 per cent of mining rights, All Wealthy owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per year.&lt;br /&gt;&lt;br /&gt;Prosperity will pay US$7 million, or around &amp;pound;4.4 million, as a&amp;nbsp; refundable deposit by February 15 this year 2012 with the balance of US$18 million, or around &amp;pound;11.3 million, due upon completion.&lt;br /&gt;&lt;br /&gt;The acquisition is expected to be finished by the end of March this year, subject to all regulatory approvals, including shareholder approval.&lt;br /&gt;&lt;br /&gt;Under an agreement with Prosperity International Holdings Ltd (PIHL) last month, in which it paid US$6 million as a refundable deposit, Prosperity has the option to participate in the acquisition of further interests in All Wealthy alongside PIHL, the firm added.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 10:19:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed Investment ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 09:07:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals encouraged by first apartment sales at Guangzhou City development ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) said it made the first presales of residential units at the Oriental Landmark development, Guangzhou City, on December 25 2011.&lt;br /&gt;&lt;br /&gt;Of the 184 units put up for sale, 79 were sold in the first two weeks up to January 8 2012. &amp;ldquo;This is encouraging with both prices and results in line with the company&#039;s expectations,&amp;rdquo; it told investors.&lt;br /&gt;&lt;br /&gt;The company continues to monitor prevailing market conditions to determine presale schedules and prices for units in the remaining three residential blocks and expects presales of all four residential blocks to have commenced by the end of 2012.&lt;br /&gt;&lt;br /&gt;Prosperity is focused on real estate ownership and development in China, and is invested in two cement manufacturers in the country.&amp;nbsp; It announced in September 2010 that it was selling its iron ore trading business or US$38.6 million to its controlling shareholder, Prosperity International Holdings, so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;Prosperity acquired the Oriental Landmark property development project, previously referred to as Dongfang Wende Plaza, in August 2010. &lt;br /&gt;&lt;br /&gt;Since acquisition, the company has incurred some additional construction costs, administrative expenses and taxes. Nonetheless, based on current presale results and market conditions, management expects a good return on the sale of the residential units in this development, it said.&lt;br /&gt;&amp;nbsp;&lt;br /&gt;Chairman and chief executive David Wong: &quot;Current presale results reflect the strong demand for high end residential property in downtown Guangzhou City. I believe presales from all the residential units, once completed, will provide the company with a good return and that rental income from the commercial units will provide long term recurring income.&quot;&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 10:04:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Trading Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 09:06:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals is &quot;significantly undervalued&quot;, says Daniel Stewart ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is &#039;significantly undervalued&#039;, says broker &lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt;, which rates the stock a &#039;buy&#039; and targets a price of 211 pence (current price: 87 pence).&lt;br /&gt;&lt;br /&gt;The firm, an iron ore trading business serving the People&#039;s Republic of China (PRC), is also a real estate owner and developer, and is invested in two cement manufacturers in the PRC.&lt;br /&gt;&lt;br /&gt;In September this year, the group unveiled plans to sell its iron trading business for US$38.6 million to its controlling shareholder, Prosperity International Holdings so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; analyst Simon Wills, in a wide- ranging note, said that the firm&#039;s share price had fallen sharply since the middle of the year.&lt;br /&gt;&lt;br /&gt;This had been caused, he said, partly on fears of slowdown in China and a property bubble and more recently due to uncertainty created by the proposal to sell the firm&#039;s iron ore business.&lt;br /&gt;&lt;br /&gt;&quot;This has resulted in a situation where the stake in Anhui Chaodong Cement (ACC) now accounts for almost the whole of the group&#039;s market cap,&quot; said the analyst.&lt;br /&gt;&lt;br /&gt;Wills said the Firm&#039;s ACC stake was now worth 70 pence, or 80 per cent of Prosperity&#039;s share price and the iron ore operations were valued by the broker at 7 pence per share.&lt;br /&gt;&lt;br /&gt;Thus, he said: &quot;The Real Estate business is in the price almost for free.&quot;&lt;br /&gt;&lt;br /&gt;He added: &quot;Our target price of 211p suggests the stock offers upside of 140 per cent. Even if Real Estate is valued on a 50 per cent discount to our estimate, the upside is 56 per cent.&quot;&lt;br /&gt;&lt;br /&gt;The firm&#039;s current valuation looked &quot;churlish to say the least&quot; said the analyst, who added that he looked towards news of pre sales at commercial and residential development Orient Landmark to pull the positive trigger.&lt;br /&gt;&lt;br /&gt;Last year, the firm bought&amp;nbsp; Bliss Hero for HK$836 million, which holds interests in an existing commercial building - SilverBay Plaza and a new commercial and residential development - Oriental Landmark - in Guangzhou City in Guangdong Province.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 02 Dec 2011 13:24:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals sees increase in revenues and profits ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Chinese iron ore trading and cement business &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) boosted its first-half revenues by 17 per cent to US$507.8 million while producing a pre-tax profit of US$8.4 million (H1 2011: US$2.5 million loss), the firm said today.&lt;/p&gt;
&lt;p&gt;Reporting its interim results for the six months to September 30, Prosperity said that while the firm increased the amount of iron ore shipped during the first half to 2.8 million tonnes, from 2.7 million tonnes in H1 2011, its revenue increase was also due to higher average selling prices. However, the operating profit per tonne came in lower at US$3.6 million (H1 2011: US$6.6 million) because, the firm said, margins continue to come under pressure due to the abandonment of the industry&amp;rsquo;s annual price fixing and greater direct trade between miners and steel mills.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s cement operations produced an attributable profit of US$8.7 million, compared to a loss of US$0.6 million in H1 2011. The firm said that its 33 per cent-owned Anhui Chaodong Cement business produced and sold more cement and clinker as demand in its region was strong and average selling prices higher. The 16.1 per cent-owned TCC Liaoyang business produced an operating profit of US$0.2 million, but it ended up contributing a loss of US$1.9 million (H1 2011: US$0.04 million) due to as loss on demand disposal of US$2.1 million caused by a share issuance in August.&lt;/p&gt;
&lt;p&gt;Prosperity said that its real estate development projects business made a loss of US$3.5 million, compared to a US$0.6 million profit in H1 2011.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;&amp;ldquo;I remain confident that the company will continue to trade well in both iron ore and real estate despite challenging market conditions brought about by an unsettled iron ore market and Chinese government policy, together with continuing global economic uncertainties,&amp;rdquo; said David Wong, Prosperity&amp;rsquo;s chairman and chief executive officer.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s share price was down 1.8 per cent at 82 pence in early trading today.&lt;/p&gt;
&lt;div&gt;&lt;br /&gt;&lt;/div&gt;
&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 10:01:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Interim Results ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 08:32:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals agrees new iron ore supply deal ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Prosperity Minerals (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) today announced that its wholly-owned iron trading subsidiary has signed a new deal.&lt;/p&gt;
&lt;p&gt;Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore over a 14 month period.&lt;/p&gt;
&lt;p&gt;This will be capped at 130,000 tonnes to the end of 2011, and 1.68 million tonnes in 2012.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will also provide a range of administrative services, including the handling of shipping documents and liaising with payment banks. &amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will receive a commission of US$2 per dry metric tonne of iron ore.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;It will also receive a handling charge of US$2 per dry tonne of iron ore, if the letter of credit in relation to shipment includes payment terms of 90 days.&lt;/p&gt;
&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 09:21:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - PMMC Enters into Iron Ore Agency Agreement ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 08:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Notice of Interim Results and Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Thu, 10 Nov 2011 13:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings loans $10mln to iron ore joint venture ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; today loaned a further US$10 million to its part-owned business Globest Participaceos (GPL), taking the amount of total loans to the company to US$22.8 million.&lt;br /&gt;&lt;br /&gt;Prosperity holds a 35 percent interest in United Goalink Limited (UGL), a joint venture company involved in the exploration and production of iron ore in Brazil. GPL is an indirect subsidiary of UGL, which holds 602.3 square kilometres of exploration rights and 3.01 square kilometres of mining concessions in Brazil.&lt;br /&gt;&lt;br /&gt;UGL will use the funds to set up an iron ore processing plant, upgrade facilities and cover other operational expenses.&lt;br /&gt;&lt;br /&gt;These upgrades are expected to increase production volume and quality, bringing enhanced profit and cashflow to Prosperity Minerals.&lt;br /&gt;&lt;br /&gt;Of this, US$8.6 million should be repaid until 24 January 2012 and a further US$1.4 million has to be repaid by the end of August 2013.&lt;br /&gt;&lt;br /&gt;The balance is to be repaid upon written demand in two tranches of US$2.8 million and US$10 million by August 29 2013 and end October 2013 respectively.&lt;br /&gt;&lt;br /&gt;In the period between January and August this year, Prosperity loaned US$12.8 million to GPL at an annual interest rate of 8 percent.&lt;br /&gt;&lt;br /&gt;A month ago, Prosperity changes its plans to sell its Chinese iron trading business for US$38.6 million to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, a number of independent shareholders, representing a significant shareholding in Prosperity, said they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;This morning, shares in Prosperity fell 1 percent to trade at 92 pence, giving the company a market cap of &amp;pound;132 million.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 31 Oct 2011 10:45:00 +0000&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Loan Transactions ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/&lt;/link&gt;
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			&lt;pubDate&gt;Mon, 31 Oct 2011 09:04:00 +0000&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings signs new relationship deed with controlling shareholder ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; has signed a new relationship deed with Prosperity International Holdings (PIHL), enabling PMHL to carry its business independently of control from its largest shareholder.&lt;br /&gt;&lt;br /&gt;The new relationship deed, which will regulate the conduct of the relationship between PMHL and its controlling shareholder PIHL, replaces a similar agreement between the companies signed at the time of Prosperity&amp;rsquo;s flotation on the AIM market in 2006.&lt;br /&gt;&lt;br /&gt;Under the terms of the new agreement, all transactions between PIHL, Prosperity Minerals and any of its subsidiaries will be carried out &amp;ldquo;at arm&#039;s length and on a normal commercial basis&amp;rdquo; and free of the control that PIHL would have otherwise been able to exercise through its shareholding.&lt;br /&gt;&lt;br /&gt;In particular, PIHL has agreed not to influence any director of PMHL and its subsidiaries regarding their day to day operations.&lt;br /&gt;&lt;br /&gt;Prosperity Minerals operates as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;PIHL became the controlling shareholder of Prosperity in August 2009 and currently holds a 64.07 percent interest in the company.&lt;br /&gt;&lt;br /&gt;Co-founder, chairman and chief executive of Prosperity Minerals David Wong holds a total 64.11 percent interest in PIHL.&lt;br /&gt;&lt;br /&gt;The relationship deed will terminate when the aggregate shareholding of PIHL and its associates falls below 30 per cent of the shares of the company.&lt;br /&gt;&lt;br /&gt;The new agreement came less than a month after Prosperity Minerals changed its plans to sell its Chinese iron trading business to PIHL for US$38.6 million after being informed by its independent shareholders that they would &amp;ldquo;very much like&amp;rdquo; to retain the unit.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 26 Oct 2011 10:44:00 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Relationship Deed ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/&lt;/link&gt;
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			&lt;pubDate&gt;Wed, 26 Oct 2011 09:47:00 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to retain iron trading business ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;Prosperity Minerals Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;&lt;/a&gt;) has revealed a u-turn in its plan to sell its Chinese iron trading business.&lt;br /&gt;&lt;br /&gt;Earlier this month the company unveiled a US$38.6 million deal to sell its iron trading business to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, today Prosperity said that it has been informed by a number of independent shareholders, representing a significant shareholding in Prosperity, that they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Consequently Prosperity has decided that it will not pursue the disposal at this time. This also means that the company&amp;rsquo;s proposed special dividend &amp;ndash; which would have been the second this year &amp;ndash; will not go ahead either.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;&quot;I remain confident about sustained and strong demand for iron ore in the PRC and Prosperity will continue to develop and enhance its iron ore business together with real estate. I look forward with confidence,&quot; said chairman and chief executive David Wong.&lt;/p&gt;
&lt;p&gt;&amp;nbsp;&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 30 Sep 2011 13:25:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html&lt;/guid&gt;
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	&lt;title&gt;Proactiveinvestors United Kingdom Prosperity Minerals&lt;/title&gt;
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	&lt;pubDate&gt;Wed, 23 May 2012 23:05:19 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian deal now expected to complete in July ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital (AWC) has been delayed until the end of July.&lt;/p&gt;
&lt;p&gt;PIHL, Prosperity&amp;rsquo;s majority shareholder has told it that a circular to independent shareholders will be delayed until June as work on the competent person&amp;rsquo;s and independent valuation reports is still ongoing.&lt;/p&gt;
&lt;p&gt;&amp;ldquo;This means that completion, if it were to occur, is likely to be in late July,&amp;rdquo; Prosperity said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced a deal to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC also owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines. It also owns a processing plant in Malaysia adjacent to the mines.&lt;/p&gt;
&lt;p&gt;In March, Prosperity&amp;rsquo;s independent directors said they wanted to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
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			&lt;pubDate&gt;Mon, 30 Apr 2012 15:07:00 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Announcement re: Investment in All Wealthy Capital ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/&lt;/link&gt;
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			&lt;pubDate&gt;Mon, 30 Apr 2012 14:00:00 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Holdings in Company ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/&lt;/link&gt;
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			&lt;pubDate&gt;Tue, 03 Apr 2012 09:30:00 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian iron deal pushed back ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital has been delayed until May.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s independent directors said they want to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;p&gt;The independent directors also said they need to be sure that the pro-forma net asset value of All Wealthy (AWC) is not materially less than US$500 million.&lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; parent company is Hong Kong-listed and the time needed to prepare a report for the HK authorities and hold an independent shareholders&#039; meeting means completion is now likely to be in late May 2012, it said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced it had agreed to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines.&lt;/p&gt;
&lt;p&gt;It also owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per annum.&lt;/p&gt;
&lt;p&gt;The deal includes an option for Prosperity to buy 9.5 million tonnes of iron ore from AWC over a 10 year period at a discount to the prevailing market price.&lt;/p&gt;
&lt;p&gt;The intention is to list AWC on the HK stock exchange within two years, but if this does not happen Prosperity can ask for its investment back.&lt;/p&gt;
&lt;p&gt;The valuation of US$500 million placed was based largely on an investment of US$50 million for a 10 per cent stake in AWC by Nanjing Steel, one of the largest steel mill operators in China, Prosperity added.&lt;/p&gt;
&lt;p&gt;Shares rose 4.5p to 79p.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 11:45:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed investment - additional information ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 09:00:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to invest in Malaysian iron ore operation ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is to invest in an iron ore company, which owns 70 per cent of the mining rights in two Malaysian mines, for a total of US$25 million.&lt;br /&gt;&lt;br /&gt;The company announced the conditional sale and purchase agreement to acquire a 5 per cent stake in All Wealthy Capital Ltd.&lt;br /&gt;&lt;br /&gt;The deal also involves an offtake agreement upon the acquisition&amp;rsquo;s completion. Prosperity will then secure the right to buy 9.5 million tonnes of iron ore over a 10 year period at a discount to the prevailing market price.&lt;br /&gt;&lt;br /&gt;The proposed investment in All Wealthy and the offtake-agreement is in line with the company&#039;s strategy to continue to increase its investment in iron ore resources and to expand access to sources of iron ore at competitive prices for sale to end users in China.&lt;br /&gt;&lt;br /&gt;Prosperity&#039;s 100 per cent subsidiary, Pro-Rise entered into the sale and purchase agreement with Elite Force, which owns an 80 per cent interest in All Wealthy.&lt;br /&gt;&lt;br /&gt;Elite Force is 100 per cent owned by chairman and CEO of Prosperity, David Wong. After completion of the deal, Prosperity will hold a 3.5 per cent stake in a Malaysian iron ore operation. &lt;br /&gt;&lt;br /&gt;As well as 70 per cent of mining rights, All Wealthy owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per year.&lt;br /&gt;&lt;br /&gt;Prosperity will pay US$7 million, or around &amp;pound;4.4 million, as a&amp;nbsp; refundable deposit by February 15 this year 2012 with the balance of US$18 million, or around &amp;pound;11.3 million, due upon completion.&lt;br /&gt;&lt;br /&gt;The acquisition is expected to be finished by the end of March this year, subject to all regulatory approvals, including shareholder approval.&lt;br /&gt;&lt;br /&gt;Under an agreement with Prosperity International Holdings Ltd (PIHL) last month, in which it paid US$6 million as a refundable deposit, Prosperity has the option to participate in the acquisition of further interests in All Wealthy alongside PIHL, the firm added.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 10:19:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed Investment ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 09:07:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals encouraged by first apartment sales at Guangzhou City development ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) said it made the first presales of residential units at the Oriental Landmark development, Guangzhou City, on December 25 2011.&lt;br /&gt;&lt;br /&gt;Of the 184 units put up for sale, 79 were sold in the first two weeks up to January 8 2012. &amp;ldquo;This is encouraging with both prices and results in line with the company&#039;s expectations,&amp;rdquo; it told investors.&lt;br /&gt;&lt;br /&gt;The company continues to monitor prevailing market conditions to determine presale schedules and prices for units in the remaining three residential blocks and expects presales of all four residential blocks to have commenced by the end of 2012.&lt;br /&gt;&lt;br /&gt;Prosperity is focused on real estate ownership and development in China, and is invested in two cement manufacturers in the country.&amp;nbsp; It announced in September 2010 that it was selling its iron ore trading business or US$38.6 million to its controlling shareholder, Prosperity International Holdings, so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;Prosperity acquired the Oriental Landmark property development project, previously referred to as Dongfang Wende Plaza, in August 2010. &lt;br /&gt;&lt;br /&gt;Since acquisition, the company has incurred some additional construction costs, administrative expenses and taxes. Nonetheless, based on current presale results and market conditions, management expects a good return on the sale of the residential units in this development, it said.&lt;br /&gt;&amp;nbsp;&lt;br /&gt;Chairman and chief executive David Wong: &quot;Current presale results reflect the strong demand for high end residential property in downtown Guangzhou City. I believe presales from all the residential units, once completed, will provide the company with a good return and that rental income from the commercial units will provide long term recurring income.&quot;&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 10:04:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Trading Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 09:06:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals is &quot;significantly undervalued&quot;, says Daniel Stewart ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is &#039;significantly undervalued&#039;, says broker &lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt;, which rates the stock a &#039;buy&#039; and targets a price of 211 pence (current price: 87 pence).&lt;br /&gt;&lt;br /&gt;The firm, an iron ore trading business serving the People&#039;s Republic of China (PRC), is also a real estate owner and developer, and is invested in two cement manufacturers in the PRC.&lt;br /&gt;&lt;br /&gt;In September this year, the group unveiled plans to sell its iron trading business for US$38.6 million to its controlling shareholder, Prosperity International Holdings so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; analyst Simon Wills, in a wide- ranging note, said that the firm&#039;s share price had fallen sharply since the middle of the year.&lt;br /&gt;&lt;br /&gt;This had been caused, he said, partly on fears of slowdown in China and a property bubble and more recently due to uncertainty created by the proposal to sell the firm&#039;s iron ore business.&lt;br /&gt;&lt;br /&gt;&quot;This has resulted in a situation where the stake in Anhui Chaodong Cement (ACC) now accounts for almost the whole of the group&#039;s market cap,&quot; said the analyst.&lt;br /&gt;&lt;br /&gt;Wills said the Firm&#039;s ACC stake was now worth 70 pence, or 80 per cent of Prosperity&#039;s share price and the iron ore operations were valued by the broker at 7 pence per share.&lt;br /&gt;&lt;br /&gt;Thus, he said: &quot;The Real Estate business is in the price almost for free.&quot;&lt;br /&gt;&lt;br /&gt;He added: &quot;Our target price of 211p suggests the stock offers upside of 140 per cent. Even if Real Estate is valued on a 50 per cent discount to our estimate, the upside is 56 per cent.&quot;&lt;br /&gt;&lt;br /&gt;The firm&#039;s current valuation looked &quot;churlish to say the least&quot; said the analyst, who added that he looked towards news of pre sales at commercial and residential development Orient Landmark to pull the positive trigger.&lt;br /&gt;&lt;br /&gt;Last year, the firm bought&amp;nbsp; Bliss Hero for HK$836 million, which holds interests in an existing commercial building - SilverBay Plaza and a new commercial and residential development - Oriental Landmark - in Guangzhou City in Guangdong Province.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 02 Dec 2011 13:24:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals sees increase in revenues and profits ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Chinese iron ore trading and cement business &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) boosted its first-half revenues by 17 per cent to US$507.8 million while producing a pre-tax profit of US$8.4 million (H1 2011: US$2.5 million loss), the firm said today.&lt;/p&gt;
&lt;p&gt;Reporting its interim results for the six months to September 30, Prosperity said that while the firm increased the amount of iron ore shipped during the first half to 2.8 million tonnes, from 2.7 million tonnes in H1 2011, its revenue increase was also due to higher average selling prices. However, the operating profit per tonne came in lower at US$3.6 million (H1 2011: US$6.6 million) because, the firm said, margins continue to come under pressure due to the abandonment of the industry&amp;rsquo;s annual price fixing and greater direct trade between miners and steel mills.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s cement operations produced an attributable profit of US$8.7 million, compared to a loss of US$0.6 million in H1 2011. The firm said that its 33 per cent-owned Anhui Chaodong Cement business produced and sold more cement and clinker as demand in its region was strong and average selling prices higher. The 16.1 per cent-owned TCC Liaoyang business produced an operating profit of US$0.2 million, but it ended up contributing a loss of US$1.9 million (H1 2011: US$0.04 million) due to as loss on demand disposal of US$2.1 million caused by a share issuance in August.&lt;/p&gt;
&lt;p&gt;Prosperity said that its real estate development projects business made a loss of US$3.5 million, compared to a US$0.6 million profit in H1 2011.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;&amp;ldquo;I remain confident that the company will continue to trade well in both iron ore and real estate despite challenging market conditions brought about by an unsettled iron ore market and Chinese government policy, together with continuing global economic uncertainties,&amp;rdquo; said David Wong, Prosperity&amp;rsquo;s chairman and chief executive officer.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s share price was down 1.8 per cent at 82 pence in early trading today.&lt;/p&gt;
&lt;div&gt;&lt;br /&gt;&lt;/div&gt;
&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 10:01:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Interim Results ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 08:32:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals agrees new iron ore supply deal ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Prosperity Minerals (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) today announced that its wholly-owned iron trading subsidiary has signed a new deal.&lt;/p&gt;
&lt;p&gt;Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore over a 14 month period.&lt;/p&gt;
&lt;p&gt;This will be capped at 130,000 tonnes to the end of 2011, and 1.68 million tonnes in 2012.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will also provide a range of administrative services, including the handling of shipping documents and liaising with payment banks. &amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will receive a commission of US$2 per dry metric tonne of iron ore.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;It will also receive a handling charge of US$2 per dry tonne of iron ore, if the letter of credit in relation to shipment includes payment terms of 90 days.&lt;/p&gt;
&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 09:21:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - PMMC Enters into Iron Ore Agency Agreement ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 08:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Notice of Interim Results and Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Thu, 10 Nov 2011 13:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings loans $10mln to iron ore joint venture ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; today loaned a further US$10 million to its part-owned business Globest Participaceos (GPL), taking the amount of total loans to the company to US$22.8 million.&lt;br /&gt;&lt;br /&gt;Prosperity holds a 35 percent interest in United Goalink Limited (UGL), a joint venture company involved in the exploration and production of iron ore in Brazil. GPL is an indirect subsidiary of UGL, which holds 602.3 square kilometres of exploration rights and 3.01 square kilometres of mining concessions in Brazil.&lt;br /&gt;&lt;br /&gt;UGL will use the funds to set up an iron ore processing plant, upgrade facilities and cover other operational expenses.&lt;br /&gt;&lt;br /&gt;These upgrades are expected to increase production volume and quality, bringing enhanced profit and cashflow to Prosperity Minerals.&lt;br /&gt;&lt;br /&gt;Of this, US$8.6 million should be repaid until 24 January 2012 and a further US$1.4 million has to be repaid by the end of August 2013.&lt;br /&gt;&lt;br /&gt;The balance is to be repaid upon written demand in two tranches of US$2.8 million and US$10 million by August 29 2013 and end October 2013 respectively.&lt;br /&gt;&lt;br /&gt;In the period between January and August this year, Prosperity loaned US$12.8 million to GPL at an annual interest rate of 8 percent.&lt;br /&gt;&lt;br /&gt;A month ago, Prosperity changes its plans to sell its Chinese iron trading business for US$38.6 million to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, a number of independent shareholders, representing a significant shareholding in Prosperity, said they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;This morning, shares in Prosperity fell 1 percent to trade at 92 pence, giving the company a market cap of &amp;pound;132 million.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 31 Oct 2011 10:45:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Loan Transactions ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 31 Oct 2011 09:04:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings signs new relationship deed with controlling shareholder ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; has signed a new relationship deed with Prosperity International Holdings (PIHL), enabling PMHL to carry its business independently of control from its largest shareholder.&lt;br /&gt;&lt;br /&gt;The new relationship deed, which will regulate the conduct of the relationship between PMHL and its controlling shareholder PIHL, replaces a similar agreement between the companies signed at the time of Prosperity&amp;rsquo;s flotation on the AIM market in 2006.&lt;br /&gt;&lt;br /&gt;Under the terms of the new agreement, all transactions between PIHL, Prosperity Minerals and any of its subsidiaries will be carried out &amp;ldquo;at arm&#039;s length and on a normal commercial basis&amp;rdquo; and free of the control that PIHL would have otherwise been able to exercise through its shareholding.&lt;br /&gt;&lt;br /&gt;In particular, PIHL has agreed not to influence any director of PMHL and its subsidiaries regarding their day to day operations.&lt;br /&gt;&lt;br /&gt;Prosperity Minerals operates as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;PIHL became the controlling shareholder of Prosperity in August 2009 and currently holds a 64.07 percent interest in the company.&lt;br /&gt;&lt;br /&gt;Co-founder, chairman and chief executive of Prosperity Minerals David Wong holds a total 64.11 percent interest in PIHL.&lt;br /&gt;&lt;br /&gt;The relationship deed will terminate when the aggregate shareholding of PIHL and its associates falls below 30 per cent of the shares of the company.&lt;br /&gt;&lt;br /&gt;The new agreement came less than a month after Prosperity Minerals changed its plans to sell its Chinese iron trading business to PIHL for US$38.6 million after being informed by its independent shareholders that they would &amp;ldquo;very much like&amp;rdquo; to retain the unit.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 26 Oct 2011 10:44:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html&lt;/guid&gt;
		&lt;/item&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Relationship Deed ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 26 Oct 2011 09:47:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to retain iron trading business ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;Prosperity Minerals Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;&lt;/a&gt;) has revealed a u-turn in its plan to sell its Chinese iron trading business.&lt;br /&gt;&lt;br /&gt;Earlier this month the company unveiled a US$38.6 million deal to sell its iron trading business to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, today Prosperity said that it has been informed by a number of independent shareholders, representing a significant shareholding in Prosperity, that they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Consequently Prosperity has decided that it will not pursue the disposal at this time. This also means that the company&amp;rsquo;s proposed special dividend &amp;ndash; which would have been the second this year &amp;ndash; will not go ahead either.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;&quot;I remain confident about sustained and strong demand for iron ore in the PRC and Prosperity will continue to develop and enhance its iron ore business together with real estate. I look forward with confidence,&quot; said chairman and chief executive David Wong.&lt;/p&gt;
&lt;p&gt;&amp;nbsp;&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 30 Sep 2011 13:25:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html&lt;/guid&gt;
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	"id" => "42145",
	"title" => "News - Prosperity Minerals&#039; Malaysian deal now expected to complete in July",
	"pubdate" => "2012-04-30 15:07:00",
	"seftitle" => "prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html",
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&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital (AWC) has been delayed until the end of July.&lt;/p&gt;
&lt;p&gt;PIHL, Prosperity&amp;rsquo;s majority shareholder has told it that a circular to independent shareholders will be delayed until June as work on the competent person&amp;rsquo;s and independent valuation reports is still ongoing.&lt;/p&gt;
&lt;p&gt;&amp;ldquo;This means that completion, if it were to occur, is likely to be in late July,&amp;rdquo; Prosperity said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced a deal to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC also owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines. It also owns a processing plant in Malaysia adjacent to the mines.&lt;/p&gt;
&lt;p&gt;In March, Prosperity&amp;rsquo;s independent directors said they wanted to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
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	array(
	"id" => "120430pmhl3427c",
	"title" => "RNS press release - Announcement re: Investment in All Wealthy Capital",
	"pubdate" => "2012-04-30 14:00:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/"
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	"title" => "RNS press release - Holdings in Company",
	"pubdate" => "2012-04-03 09:30:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/"
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	array(
	"id" => "39916",
	"title" => "News - Prosperity Minerals&#039; Malaysian iron deal pushed back",
	"pubdate" => "2012-03-07 11:45:00",
	"seftitle" => "prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital has been delayed until May.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s independent directors said they want to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;p&gt;The independent directors also said they need to be sure that the pro-forma net asset value of All Wealthy (AWC) is not materially less than US$500 million.&lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; parent company is Hong Kong-listed and the time needed to prepare a report for the HK authorities and hold an independent shareholders&#039; meeting means completion is now likely to be in late May 2012, it said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced it had agreed to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines.&lt;/p&gt;
&lt;p&gt;It also owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per annum.&lt;/p&gt;
&lt;p&gt;The deal includes an option for Prosperity to buy 9.5 million tonnes of iron ore from AWC over a 10 year period at a discount to the prevailing market price.&lt;/p&gt;
&lt;p&gt;The intention is to list AWC on the HK stock exchange within two years, but if this does not happen Prosperity can ask for its investment back.&lt;/p&gt;
&lt;p&gt;The valuation of US$500 million placed was based largely on an investment of US$50 million for a 10 per cent stake in AWC by Nanjing Steel, one of the largest steel mill operators in China, Prosperity added.&lt;/p&gt;
&lt;p&gt;Shares rose 4.5p to 79p.&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html"
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	array(
	"id" => "120307pmhl8551y",
	"title" => "RNS press release - Proposed investment - additional information",
	"pubdate" => "2012-03-07 09:00:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/"
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	array(
	"id" => "38832",
	"title" => "News - Prosperity Minerals to invest in Malaysian iron ore operation",
	"pubdate" => "2012-02-10 10:19:00",
	"seftitle" => "prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is to invest in an iron ore company, which owns 70 per cent of the mining rights in two Malaysian mines, for a total of US$25 million.&lt;br /&gt;&lt;br /&gt;The company announced the conditional sale and purchase agreement to acquire a 5 per cent stake in All Wealthy Capital Ltd.&lt;br /&gt;&lt;br /&gt;The deal also involves an offtake agreement upon the acquisition&amp;rsquo;s completion. Prosperity will then secure the right to buy 9.5 million tonnes of iron ore over a 10 year period at a discount to the prevailing market price.&lt;br /&gt;&lt;br /&gt;The proposed investment in All Wealthy and the offtake-agreement is in line with the company&#039;s strategy to continue to increase its investment in iron ore resources and to expand access to sources of iron ore at competitive prices for sale to end users in China.&lt;br /&gt;&lt;br /&gt;Prosperity&#039;s 100 per cent subsidiary, Pro-Rise entered into the sale and purchase agreement with Elite Force, which owns an 80 per cent interest in All Wealthy.&lt;br /&gt;&lt;br /&gt;Elite Force is 100 per cent owned by chairman and CEO of Prosperity, David Wong. After completion of the deal, Prosperity will hold a 3.5 per cent stake in a Malaysian iron ore operation. &lt;br /&gt;&lt;br /&gt;As well as 70 per cent of mining rights, All Wealthy owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per year.&lt;br /&gt;&lt;br /&gt;Prosperity will pay US$7 million, or around &amp;pound;4.4 million, as a&amp;nbsp; refundable deposit by February 15 this year 2012 with the balance of US$18 million, or around &amp;pound;11.3 million, due upon completion.&lt;br /&gt;&lt;br /&gt;The acquisition is expected to be finished by the end of March this year, subject to all regulatory approvals, including shareholder approval.&lt;br /&gt;&lt;br /&gt;Under an agreement with Prosperity International Holdings Ltd (PIHL) last month, in which it paid US$6 million as a refundable deposit, Prosperity has the option to participate in the acquisition of further interests in All Wealthy alongside PIHL, the firm added.&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html"
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	"id" => "120210pmhl1911x",
	"title" => "RNS press release - Proposed Investment",
	"pubdate" => "2012-02-10 09:07:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/"
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	array(
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	"title" => "News - Prosperity Minerals encouraged by first apartment sales at Guangzhou City development",
	"pubdate" => "2012-01-09 10:04:00",
	"seftitle" => "prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) said it made the first presales of residential units at the Oriental Landmark development, Guangzhou City, on December 25 2011.&lt;br /&gt;&lt;br /&gt;Of the 184 units put up for sale, 79 were sold in the first two weeks up to January 8 2012. &amp;ldquo;This is encouraging with both prices and results in line with the company&#039;s expectations,&amp;rdquo; it told investors.&lt;br /&gt;&lt;br /&gt;The company continues to monitor prevailing market conditions to determine presale schedules and prices for units in the remaining three residential blocks and expects presales of all four residential blocks to have commenced by the end of 2012.&lt;br /&gt;&lt;br /&gt;Prosperity is focused on real estate ownership and development in China, and is invested in two cement manufacturers in the country.&amp;nbsp; It announced in September 2010 that it was selling its iron ore trading business or US$38.6 million to its controlling shareholder, Prosperity International Holdings, so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;Prosperity acquired the Oriental Landmark property development project, previously referred to as Dongfang Wende Plaza, in August 2010. &lt;br /&gt;&lt;br /&gt;Since acquisition, the company has incurred some additional construction costs, administrative expenses and taxes. Nonetheless, based on current presale results and market conditions, management expects a good return on the sale of the residential units in this development, it said.&lt;br /&gt;&amp;nbsp;&lt;br /&gt;Chairman and chief executive David Wong: &quot;Current presale results reflect the strong demand for high end residential property in downtown Guangzhou City. I believe presales from all the residential units, once completed, will provide the company with a good return and that rental income from the commercial units will provide long term recurring income.&quot;&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html"
),
	array(
	"id" => "120109pmhl2043v",
	"title" => "RNS press release - Trading Update",
	"pubdate" => "2012-01-09 09:06:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/"
),
	array(
	"id" => "36442",
	"title" => "News - Prosperity Minerals is &quot;significantly undervalued&quot;, says Daniel Stewart",
	"pubdate" => "2011-12-02 13:24:00",
	"seftitle" => "prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html",
	"description" => "&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is &#039;significantly undervalued&#039;, says broker &lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt;, which rates the stock a &#039;buy&#039; and targets a price of 211 pence (current price: 87 pence).&lt;br /&gt;&lt;br /&gt;The firm, an iron ore trading business serving the People&#039;s Republic of China (PRC), is also a real estate owner and developer, and is invested in two cement manufacturers in the PRC.&lt;br /&gt;&lt;br /&gt;In September this year, the group unveiled plans to sell its iron trading business for US$38.6 million to its controlling shareholder, Prosperity International Holdings so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; analyst Simon Wills, in a wide- ranging note, said that the firm&#039;s share price had fallen sharply since the middle of the year.&lt;br /&gt;&lt;br /&gt;This had been caused, he said, partly on fears of slowdown in China and a property bubble and more recently due to uncertainty created by the proposal to sell the firm&#039;s iron ore business.&lt;br /&gt;&lt;br /&gt;&quot;This has resulted in a situation where the stake in Anhui Chaodong Cement (ACC) now accounts for almost the whole of the group&#039;s market cap,&quot; said the analyst.&lt;br /&gt;&lt;br /&gt;Wills said the Firm&#039;s ACC stake was now worth 70 pence, or 80 per cent of Prosperity&#039;s share price and the iron ore operations were valued by the broker at 7 pence per share.&lt;br /&gt;&lt;br /&gt;Thus, he said: &quot;The Real Estate business is in the price almost for free.&quot;&lt;br /&gt;&lt;br /&gt;He added: &quot;Our target price of 211p suggests the stock offers upside of 140 per cent. Even if Real Estate is valued on a 50 per cent discount to our estimate, the upside is 56 per cent.&quot;&lt;br /&gt;&lt;br /&gt;The firm&#039;s current valuation looked &quot;churlish to say the least&quot; said the analyst, who added that he looked towards news of pre sales at commercial and residential development Orient Landmark to pull the positive trigger.&lt;br /&gt;&lt;br /&gt;Last year, the firm bought&amp;nbsp; Bliss Hero for HK$836 million, which holds interests in an existing commercial building - SilverBay Plaza and a new commercial and residential development - Oriental Landmark - in Guangzhou City in Guangdong Province.&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html"
),
	array(
	"id" => "36256",
	"title" => "News - Prosperity Minerals sees increase in revenues and profits",
	"pubdate" => "2011-11-29 10:01:00",
	"seftitle" => "prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html",
	"description" => "&lt;p&gt;
&lt;p&gt;Chinese iron ore trading and cement business &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) boosted its first-half revenues by 17 per cent to US$507.8 million while producing a pre-tax profit of US$8.4 million (H1 2011: US$2.5 million loss), the firm said today.&lt;/p&gt;
&lt;p&gt;Reporting its interim results for the six months to September 30, Prosperity said that while the firm increased the amount of iron ore shipped during the first half to 2.8 million tonnes, from 2.7 million tonnes in H1 2011, its revenue increase was also due to higher average selling prices. However, the operating profit per tonne came in lower at US$3.6 million (H1 2011: US$6.6 million) because, the firm said, margins continue to come under pressure due to the abandonment of the industry&amp;rsquo;s annual price fixing and greater direct trade between miners and steel mills.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s cement operations produced an attributable profit of US$8.7 million, compared to a loss of US$0.6 million in H1 2011. The firm said that its 33 per cent-owned Anhui Chaodong Cement business produced and sold more cement and clinker as demand in its region was strong and average selling prices higher. The 16.1 per cent-owned TCC Liaoyang business produced an operating profit of US$0.2 million, but it ended up contributing a loss of US$1.9 million (H1 2011: US$0.04 million) due to as loss on demand disposal of US$2.1 million caused by a share issuance in August.&lt;/p&gt;
&lt;p&gt;Prosperity said that its real estate development projects business made a loss of US$3.5 million, compared to a US$0.6 million profit in H1 2011.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;&amp;ldquo;I remain confident that the company will continue to trade well in both iron ore and real estate despite challenging market conditions brought about by an unsettled iron ore market and Chinese government policy, together with continuing global economic uncertainties,&amp;rdquo; said David Wong, Prosperity&amp;rsquo;s chairman and chief executive officer.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s share price was down 1.8 per cent at 82 pence in early trading today.&lt;/p&gt;
&lt;div&gt;&lt;br /&gt;&lt;/div&gt;
&lt;/p&gt; ",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html"
),
	array(
	"id" => "111129pmhl9486s",
	"title" => "RNS press release - Interim Results",
	"pubdate" => "2011-11-29 08:32:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/"
),
	array(
	"id" => "35624",
	"title" => "News - Prosperity Minerals agrees new iron ore supply deal",
	"pubdate" => "2011-11-15 09:21:00",
	"seftitle" => "prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html",
	"description" => "&lt;p&gt;
&lt;p&gt;Prosperity Minerals (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) today announced that its wholly-owned iron trading subsidiary has signed a new deal.&lt;/p&gt;
&lt;p&gt;Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore over a 14 month period.&lt;/p&gt;
&lt;p&gt;This will be capped at 130,000 tonnes to the end of 2011, and 1.68 million tonnes in 2012.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will also provide a range of administrative services, including the handling of shipping documents and liaising with payment banks. &amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will receive a commission of US$2 per dry metric tonne of iron ore.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;It will also receive a handling charge of US$2 per dry tonne of iron ore, if the letter of credit in relation to shipment includes payment terms of 90 days.&lt;/p&gt;
&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html"
),
	array(
	"id" => "111115pmhl1030s",
	"title" => "RNS press release - PMMC Enters into Iron Ore Agency Agreement",
	"pubdate" => "2011-11-15 08:46:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/"
),
	array(
	"id" => "111110pmhl8836r",
	"title" => "RNS press release - Notice of Interim Results and Update",
	"pubdate" => "2011-11-10 13:46:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/"
),
	array(
	"id" => "34991",
	"title" => "News - Prosperity Minerals Holdings loans $10mln to iron ore joint venture",
	"pubdate" => "2011-10-31 10:45:00",
	"seftitle" => "prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html",
	"description" => "&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; today loaned a further US$10 million to its part-owned business Globest Participaceos (GPL), taking the amount of total loans to the company to US$22.8 million.&lt;br /&gt;&lt;br /&gt;Prosperity holds a 35 percent interest in United Goalink Limited (UGL), a joint venture company involved in the exploration and production of iron ore in Brazil. GPL is an indirect subsidiary of UGL, which holds 602.3 square kilometres of exploration rights and 3.01 square kilometres of mining concessions in Brazil.&lt;br /&gt;&lt;br /&gt;UGL will use the funds to set up an iron ore processing plant, upgrade facilities and cover other operational expenses.&lt;br /&gt;&lt;br /&gt;These upgrades are expected to increase production volume and quality, bringing enhanced profit and cashflow to Prosperity Minerals.&lt;br /&gt;&lt;br /&gt;Of this, US$8.6 million should be repaid until 24 January 2012 and a further US$1.4 million has to be repaid by the end of August 2013.&lt;br /&gt;&lt;br /&gt;The balance is to be repaid upon written demand in two tranches of US$2.8 million and US$10 million by August 29 2013 and end October 2013 respectively.&lt;br /&gt;&lt;br /&gt;In the period between January and August this year, Prosperity loaned US$12.8 million to GPL at an annual interest rate of 8 percent.&lt;br /&gt;&lt;br /&gt;A month ago, Prosperity changes its plans to sell its Chinese iron trading business for US$38.6 million to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, a number of independent shareholders, representing a significant shareholding in Prosperity, said they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;This morning, shares in Prosperity fell 1 percent to trade at 92 pence, giving the company a market cap of &amp;pound;132 million.&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html"
),
	array(
	"id" => "111031pmhl1337r",
	"title" => "RNS press release - Loan Transactions",
	"pubdate" => "2011-10-31 09:04:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/"
),
	array(
	"id" => "34818",
	"title" => "News - Prosperity Minerals Holdings signs new relationship deed with controlling shareholder",
	"pubdate" => "2011-10-26 10:44:00",
	"seftitle" => "prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html",
	"description" => "&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; has signed a new relationship deed with Prosperity International Holdings (PIHL), enabling PMHL to carry its business independently of control from its largest shareholder.&lt;br /&gt;&lt;br /&gt;The new relationship deed, which will regulate the conduct of the relationship between PMHL and its controlling shareholder PIHL, replaces a similar agreement between the companies signed at the time of Prosperity&amp;rsquo;s flotation on the AIM market in 2006.&lt;br /&gt;&lt;br /&gt;Under the terms of the new agreement, all transactions between PIHL, Prosperity Minerals and any of its subsidiaries will be carried out &amp;ldquo;at arm&#039;s length and on a normal commercial basis&amp;rdquo; and free of the control that PIHL would have otherwise been able to exercise through its shareholding.&lt;br /&gt;&lt;br /&gt;In particular, PIHL has agreed not to influence any director of PMHL and its subsidiaries regarding their day to day operations.&lt;br /&gt;&lt;br /&gt;Prosperity Minerals operates as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;PIHL became the controlling shareholder of Prosperity in August 2009 and currently holds a 64.07 percent interest in the company.&lt;br /&gt;&lt;br /&gt;Co-founder, chairman and chief executive of Prosperity Minerals David Wong holds a total 64.11 percent interest in PIHL.&lt;br /&gt;&lt;br /&gt;The relationship deed will terminate when the aggregate shareholding of PIHL and its associates falls below 30 per cent of the shares of the company.&lt;br /&gt;&lt;br /&gt;The new agreement came less than a month after Prosperity Minerals changed its plans to sell its Chinese iron trading business to PIHL for US$38.6 million after being informed by its independent shareholders that they would &amp;ldquo;very much like&amp;rdquo; to retain the unit.&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html"
),
	array(
	"id" => "111026pmhl8663q",
	"title" => "RNS press release - Relationship Deed",
	"pubdate" => "2011-10-26 09:47:00",
	"seftitle" => "",
	"description" => "",
	"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/"
),
	array(
	"id" => "33816",
	"title" => "News - Prosperity Minerals to retain iron trading business",
	"pubdate" => "2011-09-30 13:25:00",
	"seftitle" => "prosperity-minerals-to-retain-iron-trading-business-33816.html",
	"description" => "&lt;p&gt;Prosperity Minerals Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;&lt;/a&gt;) has revealed a u-turn in its plan to sell its Chinese iron trading business.&lt;br /&gt;&lt;br /&gt;Earlier this month the company unveiled a US$38.6 million deal to sell its iron trading business to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, today Prosperity said that it has been informed by a number of independent shareholders, representing a significant shareholding in Prosperity, that they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Consequently Prosperity has decided that it will not pursue the disposal at this time. This also means that the company&amp;rsquo;s proposed special dividend &amp;ndash; which would have been the second this year &amp;ndash; will not go ahead either.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;&quot;I remain confident about sustained and strong demand for iron ore in the PRC and Prosperity will continue to develop and enhance its iron ore business together with real estate. I look forward with confidence,&quot; said chairman and chief executive David Wong.&lt;/p&gt;
&lt;p&gt;&amp;nbsp;&lt;/p&gt;",
	"link" => "http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html"
)
)
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	&lt;title&gt;Proactiveinvestors United Kingdom Prosperity Minerals&lt;/title&gt;
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	&lt;language&gt;en&lt;/language&gt;
	&lt;pubDate&gt;Wed, 23 May 2012 23:05:19 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian deal now expected to complete in July ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital (AWC) has been delayed until the end of July.&lt;/p&gt;
&lt;p&gt;PIHL, Prosperity&amp;rsquo;s majority shareholder has told it that a circular to independent shareholders will be delayed until June as work on the competent person&amp;rsquo;s and independent valuation reports is still ongoing.&lt;/p&gt;
&lt;p&gt;&amp;ldquo;This means that completion, if it were to occur, is likely to be in late July,&amp;rdquo; Prosperity said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced a deal to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC also owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines. It also owns a processing plant in Malaysia adjacent to the mines.&lt;/p&gt;
&lt;p&gt;In March, Prosperity&amp;rsquo;s independent directors said they wanted to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 30 Apr 2012 15:07:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Announcement re: Investment in All Wealthy Capital ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 30 Apr 2012 14:00:00 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Holdings in Company ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 03 Apr 2012 09:30:00 +0100&lt;/pubDate&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals&#039; Malaysian iron deal pushed back ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital has been delayed until May.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s independent directors said they want to see a satisfactory competent person&amp;rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; before approving the deal.&lt;/p&gt;
&lt;p&gt;The independent directors also said they need to be sure that the pro-forma net asset value of All Wealthy (AWC) is not materially less than US$500 million.&lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt;&amp;rsquo; parent company is Hong Kong-listed and the time needed to prepare a report for the HK authorities and hold an independent shareholders&#039; meeting means completion is now likely to be in late May 2012, it said.&lt;/p&gt;
&lt;p&gt;Prosperity originally announced it had agreed to buy a 5 per cent interest in AWC for US$25 million (approximately &amp;pound;15.8 million) in February.&lt;/p&gt;
&lt;p&gt;AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&amp;rsquo;s chairman and chief executive David Wong. He is AWC&amp;rsquo;s sole director.&lt;/p&gt;
&lt;p&gt;AWC owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines.&lt;/p&gt;
&lt;p&gt;It also owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per annum.&lt;/p&gt;
&lt;p&gt;The deal includes an option for Prosperity to buy 9.5 million tonnes of iron ore from AWC over a 10 year period at a discount to the prevailing market price.&lt;/p&gt;
&lt;p&gt;The intention is to list AWC on the HK stock exchange within two years, but if this does not happen Prosperity can ask for its investment back.&lt;/p&gt;
&lt;p&gt;The valuation of US$500 million placed was based largely on an investment of US$50 million for a 10 per cent stake in AWC by Nanjing Steel, one of the largest steel mill operators in China, Prosperity added.&lt;/p&gt;
&lt;p&gt;Shares rose 4.5p to 79p.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 11:45:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed investment - additional information ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 07 Mar 2012 09:00:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/&lt;/guid&gt;
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		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to invest in Malaysian iron ore operation ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is to invest in an iron ore company, which owns 70 per cent of the mining rights in two Malaysian mines, for a total of US$25 million.&lt;br /&gt;&lt;br /&gt;The company announced the conditional sale and purchase agreement to acquire a 5 per cent stake in All Wealthy Capital Ltd.&lt;br /&gt;&lt;br /&gt;The deal also involves an offtake agreement upon the acquisition&amp;rsquo;s completion. Prosperity will then secure the right to buy 9.5 million tonnes of iron ore over a 10 year period at a discount to the prevailing market price.&lt;br /&gt;&lt;br /&gt;The proposed investment in All Wealthy and the offtake-agreement is in line with the company&#039;s strategy to continue to increase its investment in iron ore resources and to expand access to sources of iron ore at competitive prices for sale to end users in China.&lt;br /&gt;&lt;br /&gt;Prosperity&#039;s 100 per cent subsidiary, Pro-Rise entered into the sale and purchase agreement with Elite Force, which owns an 80 per cent interest in All Wealthy.&lt;br /&gt;&lt;br /&gt;Elite Force is 100 per cent owned by chairman and CEO of Prosperity, David Wong. After completion of the deal, Prosperity will hold a 3.5 per cent stake in a Malaysian iron ore operation. &lt;br /&gt;&lt;br /&gt;As well as 70 per cent of mining rights, All Wealthy owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per year.&lt;br /&gt;&lt;br /&gt;Prosperity will pay US$7 million, or around &amp;pound;4.4 million, as a&amp;nbsp; refundable deposit by February 15 this year 2012 with the balance of US$18 million, or around &amp;pound;11.3 million, due upon completion.&lt;br /&gt;&lt;br /&gt;The acquisition is expected to be finished by the end of March this year, subject to all regulatory approvals, including shareholder approval.&lt;br /&gt;&lt;br /&gt;Under an agreement with Prosperity International Holdings Ltd (PIHL) last month, in which it paid US$6 million as a refundable deposit, Prosperity has the option to participate in the acquisition of further interests in All Wealthy alongside PIHL, the firm added.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 10:19:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Proposed Investment ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 10 Feb 2012 09:07:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals encouraged by first apartment sales at Guangzhou City development ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) said it made the first presales of residential units at the Oriental Landmark development, Guangzhou City, on December 25 2011.&lt;br /&gt;&lt;br /&gt;Of the 184 units put up for sale, 79 were sold in the first two weeks up to January 8 2012. &amp;ldquo;This is encouraging with both prices and results in line with the company&#039;s expectations,&amp;rdquo; it told investors.&lt;br /&gt;&lt;br /&gt;The company continues to monitor prevailing market conditions to determine presale schedules and prices for units in the remaining three residential blocks and expects presales of all four residential blocks to have commenced by the end of 2012.&lt;br /&gt;&lt;br /&gt;Prosperity is focused on real estate ownership and development in China, and is invested in two cement manufacturers in the country.&amp;nbsp; It announced in September 2010 that it was selling its iron ore trading business or US$38.6 million to its controlling shareholder, Prosperity International Holdings, so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;Prosperity acquired the Oriental Landmark property development project, previously referred to as Dongfang Wende Plaza, in August 2010. &lt;br /&gt;&lt;br /&gt;Since acquisition, the company has incurred some additional construction costs, administrative expenses and taxes. Nonetheless, based on current presale results and market conditions, management expects a good return on the sale of the residential units in this development, it said.&lt;br /&gt;&amp;nbsp;&lt;br /&gt;Chairman and chief executive David Wong: &quot;Current presale results reflect the strong demand for high end residential property in downtown Guangzhou City. I believe presales from all the residential units, once completed, will provide the company with a good return and that rental income from the commercial units will provide long term recurring income.&quot;&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 10:04:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html&lt;/guid&gt;
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		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Trading Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 09 Jan 2012 09:06:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/&lt;/guid&gt;
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		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals is &quot;significantly undervalued&quot;, says Daniel Stewart ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) is &#039;significantly undervalued&#039;, says broker &lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt;, which rates the stock a &#039;buy&#039; and targets a price of 211 pence (current price: 87 pence).&lt;br /&gt;&lt;br /&gt;The firm, an iron ore trading business serving the People&#039;s Republic of China (PRC), is also a real estate owner and developer, and is invested in two cement manufacturers in the PRC.&lt;br /&gt;&lt;br /&gt;In September this year, the group unveiled plans to sell its iron trading business for US$38.6 million to its controlling shareholder, Prosperity International Holdings so that it can focus on Chinese real estate.&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;451&quot;&gt;Daniel Stewart&lt;/a&gt; analyst Simon Wills, in a wide- ranging note, said that the firm&#039;s share price had fallen sharply since the middle of the year.&lt;br /&gt;&lt;br /&gt;This had been caused, he said, partly on fears of slowdown in China and a property bubble and more recently due to uncertainty created by the proposal to sell the firm&#039;s iron ore business.&lt;br /&gt;&lt;br /&gt;&quot;This has resulted in a situation where the stake in Anhui Chaodong Cement (ACC) now accounts for almost the whole of the group&#039;s market cap,&quot; said the analyst.&lt;br /&gt;&lt;br /&gt;Wills said the Firm&#039;s ACC stake was now worth 70 pence, or 80 per cent of Prosperity&#039;s share price and the iron ore operations were valued by the broker at 7 pence per share.&lt;br /&gt;&lt;br /&gt;Thus, he said: &quot;The Real Estate business is in the price almost for free.&quot;&lt;br /&gt;&lt;br /&gt;He added: &quot;Our target price of 211p suggests the stock offers upside of 140 per cent. Even if Real Estate is valued on a 50 per cent discount to our estimate, the upside is 56 per cent.&quot;&lt;br /&gt;&lt;br /&gt;The firm&#039;s current valuation looked &quot;churlish to say the least&quot; said the analyst, who added that he looked towards news of pre sales at commercial and residential development Orient Landmark to pull the positive trigger.&lt;br /&gt;&lt;br /&gt;Last year, the firm bought&amp;nbsp; Bliss Hero for HK$836 million, which holds interests in an existing commercial building - SilverBay Plaza and a new commercial and residential development - Oriental Landmark - in Guangzhou City in Guangdong Province.&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 02 Dec 2011 13:24:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals sees increase in revenues and profits ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Chinese iron ore trading and cement business &lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;Prosperity Minerals&lt;/a&gt; (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) boosted its first-half revenues by 17 per cent to US$507.8 million while producing a pre-tax profit of US$8.4 million (H1 2011: US$2.5 million loss), the firm said today.&lt;/p&gt;
&lt;p&gt;Reporting its interim results for the six months to September 30, Prosperity said that while the firm increased the amount of iron ore shipped during the first half to 2.8 million tonnes, from 2.7 million tonnes in H1 2011, its revenue increase was also due to higher average selling prices. However, the operating profit per tonne came in lower at US$3.6 million (H1 2011: US$6.6 million) because, the firm said, margins continue to come under pressure due to the abandonment of the industry&amp;rsquo;s annual price fixing and greater direct trade between miners and steel mills.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s cement operations produced an attributable profit of US$8.7 million, compared to a loss of US$0.6 million in H1 2011. The firm said that its 33 per cent-owned Anhui Chaodong Cement business produced and sold more cement and clinker as demand in its region was strong and average selling prices higher. The 16.1 per cent-owned TCC Liaoyang business produced an operating profit of US$0.2 million, but it ended up contributing a loss of US$1.9 million (H1 2011: US$0.04 million) due to as loss on demand disposal of US$2.1 million caused by a share issuance in August.&lt;/p&gt;
&lt;p&gt;Prosperity said that its real estate development projects business made a loss of US$3.5 million, compared to a US$0.6 million profit in H1 2011.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;&amp;ldquo;I remain confident that the company will continue to trade well in both iron ore and real estate despite challenging market conditions brought about by an unsettled iron ore market and Chinese government policy, together with continuing global economic uncertainties,&amp;rdquo; said David Wong, Prosperity&amp;rsquo;s chairman and chief executive officer.&lt;/p&gt;
&lt;p&gt;Prosperity&amp;rsquo;s share price was down 1.8 per cent at 82 pence in early trading today.&lt;/p&gt;
&lt;div&gt;&lt;br /&gt;&lt;/div&gt;
&lt;/p&gt; ]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 10:01:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Interim Results ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 29 Nov 2011 08:32:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals agrees new iron ore supply deal ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;
&lt;p&gt;Prosperity Minerals (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot; class=&quot;companyPopupTrigger&quot; rel=&quot;1315&quot;&gt;LON:PMHL&lt;/a&gt;) today announced that its wholly-owned iron trading subsidiary has signed a new deal.&lt;/p&gt;
&lt;p&gt;Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore over a 14 month period.&lt;/p&gt;
&lt;p&gt;This will be capped at 130,000 tonnes to the end of 2011, and 1.68 million tonnes in 2012.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will also provide a range of administrative services, including the handling of shipping documents and liaising with payment banks. &amp;nbsp;&lt;/p&gt;
&lt;p&gt;PMMC will receive a commission of US$2 per dry metric tonne of iron ore.&amp;nbsp;&lt;/p&gt;
&lt;p&gt;It will also receive a handling charge of US$2 per dry tonne of iron ore, if the letter of credit in relation to shipment includes payment terms of 90 days.&lt;/p&gt;
&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 09:21:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html&lt;/guid&gt;
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		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - PMMC Enters into Iron Ore Agency Agreement ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Tue, 15 Nov 2011 08:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Notice of Interim Results and Update ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Thu, 10 Nov 2011 13:46:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/&lt;/guid&gt;
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		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings loans $10mln to iron ore joint venture ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; today loaned a further US$10 million to its part-owned business Globest Participaceos (GPL), taking the amount of total loans to the company to US$22.8 million.&lt;br /&gt;&lt;br /&gt;Prosperity holds a 35 percent interest in United Goalink Limited (UGL), a joint venture company involved in the exploration and production of iron ore in Brazil. GPL is an indirect subsidiary of UGL, which holds 602.3 square kilometres of exploration rights and 3.01 square kilometres of mining concessions in Brazil.&lt;br /&gt;&lt;br /&gt;UGL will use the funds to set up an iron ore processing plant, upgrade facilities and cover other operational expenses.&lt;br /&gt;&lt;br /&gt;These upgrades are expected to increase production volume and quality, bringing enhanced profit and cashflow to Prosperity Minerals.&lt;br /&gt;&lt;br /&gt;Of this, US$8.6 million should be repaid until 24 January 2012 and a further US$1.4 million has to be repaid by the end of August 2013.&lt;br /&gt;&lt;br /&gt;The balance is to be repaid upon written demand in two tranches of US$2.8 million and US$10 million by August 29 2013 and end October 2013 respectively.&lt;br /&gt;&lt;br /&gt;In the period between January and August this year, Prosperity loaned US$12.8 million to GPL at an annual interest rate of 8 percent.&lt;br /&gt;&lt;br /&gt;A month ago, Prosperity changes its plans to sell its Chinese iron trading business for US$38.6 million to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, a number of independent shareholders, representing a significant shareholding in Prosperity, said they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;This morning, shares in Prosperity fell 1 percent to trade at 92 pence, giving the company a market cap of &amp;pound;132 million.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 31 Oct 2011 10:45:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[RNS press release - Loan Transactions ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Mon, 31 Oct 2011 09:04:00 +0000&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/&lt;/guid&gt;
		&lt;/item&gt;
		&lt;item&gt;
			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals Holdings signs new relationship deed with controlling shareholder ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;&lt;strong&gt;Prosperity Minerals Holdings (&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;)&lt;/strong&gt; has signed a new relationship deed with Prosperity International Holdings (PIHL), enabling PMHL to carry its business independently of control from its largest shareholder.&lt;br /&gt;&lt;br /&gt;The new relationship deed, which will regulate the conduct of the relationship between PMHL and its controlling shareholder PIHL, replaces a similar agreement between the companies signed at the time of Prosperity&amp;rsquo;s flotation on the AIM market in 2006.&lt;br /&gt;&lt;br /&gt;Under the terms of the new agreement, all transactions between PIHL, Prosperity Minerals and any of its subsidiaries will be carried out &amp;ldquo;at arm&#039;s length and on a normal commercial basis&amp;rdquo; and free of the control that PIHL would have otherwise been able to exercise through its shareholding.&lt;br /&gt;&lt;br /&gt;In particular, PIHL has agreed not to influence any director of PMHL and its subsidiaries regarding their day to day operations.&lt;br /&gt;&lt;br /&gt;Prosperity Minerals operates as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;PIHL became the controlling shareholder of Prosperity in August 2009 and currently holds a 64.07 percent interest in the company.&lt;br /&gt;&lt;br /&gt;Co-founder, chairman and chief executive of Prosperity Minerals David Wong holds a total 64.11 percent interest in PIHL.&lt;br /&gt;&lt;br /&gt;The relationship deed will terminate when the aggregate shareholding of PIHL and its associates falls below 30 per cent of the shares of the company.&lt;br /&gt;&lt;br /&gt;The new agreement came less than a month after Prosperity Minerals changed its plans to sell its Chinese iron trading business to PIHL for US$38.6 million after being informed by its independent shareholders that they would &amp;ldquo;very much like&amp;rdquo; to retain the unit.&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 26 Oct 2011 10:44:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html&lt;/guid&gt;
		&lt;/item&gt;
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			&lt;title&gt;&lt;![CDATA[RNS press release - Relationship Deed ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Wed, 26 Oct 2011 09:47:00 +0100&lt;/pubDate&gt;
			&lt;guid&gt;http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/&lt;/guid&gt;
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			&lt;title&gt;&lt;![CDATA[News - Prosperity Minerals to retain iron trading business ]]&gt;&lt;/title&gt;
			&lt;link&gt;http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html&lt;/link&gt;
			&lt;description&gt;&lt;![CDATA[&lt;p&gt;Prosperity Minerals Holdings (&lt;a href=&quot;http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;&lt;a href=&quot;/companies/overview/1315/prosperity-minerals-1315.html&quot;&gt;LON:PMHL&lt;/a&gt;&lt;/a&gt;) has revealed a u-turn in its plan to sell its Chinese iron trading business.&lt;br /&gt;&lt;br /&gt;Earlier this month the company unveiled a US$38.6 million deal to sell its iron trading business to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.&lt;br /&gt;&lt;br /&gt;However, today Prosperity said that it has been informed by a number of independent shareholders, representing a significant shareholding in Prosperity, that they would &amp;lsquo;very much like&amp;rsquo; the company to retain the business unit.&lt;br /&gt;&lt;br /&gt;Consequently Prosperity has decided that it will not pursue the disposal at this time. This also means that the company&amp;rsquo;s proposed special dividend &amp;ndash; which would have been the second this year &amp;ndash; will not go ahead either.&lt;br /&gt;&lt;br /&gt;Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&amp;rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.&lt;br /&gt;&lt;br /&gt;&quot;I remain confident about sustained and strong demand for iron ore in the PRC and Prosperity will continue to develop and enhance its iron ore business together with real estate. I look forward with confidence,&quot; said chairman and chief executive David Wong.&lt;/p&gt;
&lt;p&gt;&amp;nbsp;&lt;/p&gt;]]&gt;&lt;/description&gt;
			&lt;pubDate&gt;Fri, 30 Sep 2011 13:25:00 +0100&lt;/pubDate&gt;
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	<title>Proactiveinvestors United Kingdom Prosperity Minerals</title>
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	<description>Proactiveinvestors United Kingdom Prosperity Minerals RSS feed
            </description>
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	<pubDate>Wed, 23 May 2012 23:05:19 +0100</pubDate>
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		<item>
			<title><![CDATA[News - Prosperity Minerals' Malaysian deal now expected to complete in July ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html</link>
			<description><![CDATA[<p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals" class="companyPopupTrigger" rel="1315">Prosperity Minerals</a>&rsquo; (<a href="/companies/overview/1315/prosperity-minerals-1315.html" class="companyPopupTrigger" rel="1315">LON:PMHL</a>) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital (AWC) has been delayed until the end of July.</p>
<p>PIHL, Prosperity&rsquo;s majority shareholder has told it that a circular to independent shareholders will be delayed until June as work on the competent person&rsquo;s and independent valuation reports is still ongoing.</p>
<p>&ldquo;This means that completion, if it were to occur, is likely to be in late July,&rdquo; Prosperity said.</p>
<p>Prosperity originally announced a deal to buy a 5 per cent interest in AWC for US$25 million (approximately &pound;15.8 million) in February.</p>
<p>AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&rsquo;s chairman and chief executive David Wong. He is AWC&rsquo;s sole director.</p>
<p>AWC also owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines. It also owns a processing plant in Malaysia adjacent to the mines.</p>
<p>In March, Prosperity&rsquo;s independent directors said they wanted to see a satisfactory competent person&rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> before approving the deal.</p>
</p> ]]></description>
			<pubDate>Mon, 30 Apr 2012 15:07:00 +0100</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/news/42145/prosperity-minerals-malaysian-deal-now-expected-to-complete-in-july-42145.html</guid>
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			<title><![CDATA[RNS press release - Announcement re: Investment in All Wealthy Capital ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/</link>
			<description><![CDATA[]]></description>
			<pubDate>Mon, 30 Apr 2012 14:00:00 +0100</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/rns/120430pmhl3427c/</guid>
		</item>
		<item>
			<title><![CDATA[RNS press release - Holdings in Company ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/</link>
			<description><![CDATA[]]></description>
			<pubDate>Tue, 03 Apr 2012 09:30:00 +0100</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/rns/120403pmhl6950a/</guid>
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		<item>
			<title><![CDATA[News - Prosperity Minerals' Malaysian iron deal pushed back ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/news/39916/prosperity-minerals-malaysian-iron-deal-pushed-back-39916.html</link>
			<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals" class="companyPopupTrigger" rel="1315">Prosperity Minerals</a>&rsquo; (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html" class="companyPopupTrigger" rel="1315">LON:PMHL</a>) proposed acquisition of a stake in Malaysian iron ore company All Wealthy Capital has been delayed until May.</p>
<p>Prosperity&rsquo;s independent directors said they want to see a satisfactory competent person&rsquo;s report, a satisfactory independent valuation report and a satisfactory fairness and reasonableness opinion from nomad <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> before approving the deal.</p>
<p>The independent directors also said they need to be sure that the pro-forma net asset value of All Wealthy (AWC) is not materially less than US$500 million.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals" class="companyPopupTrigger" rel="1315">Prosperity Minerals</a>&rsquo; parent company is Hong Kong-listed and the time needed to prepare a report for the HK authorities and hold an independent shareholders' meeting means completion is now likely to be in late May 2012, it said.</p>
<p>Prosperity originally announced it had agreed to buy a 5 per cent interest in AWC for US$25 million (approximately &pound;15.8 million) in February.</p>
<p>AWC is 80 per cent owned by Elite Force, which in turn is 100 per cent owned by Prosperity&rsquo;s chairman and chief executive David Wong. He is AWC&rsquo;s sole director.</p>
<p>AWC owns a 70 per cent interest in the exclusive mining rights at two Malaysian iron ore mines.</p>
<p>It also owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per annum.</p>
<p>The deal includes an option for Prosperity to buy 9.5 million tonnes of iron ore from AWC over a 10 year period at a discount to the prevailing market price.</p>
<p>The intention is to list AWC on the HK stock exchange within two years, but if this does not happen Prosperity can ask for its investment back.</p>
<p>The valuation of US$500 million placed was based largely on an investment of US$50 million for a 10 per cent stake in AWC by Nanjing Steel, one of the largest steel mill operators in China, Prosperity added.</p>
<p>Shares rose 4.5p to 79p.</p> ]]></description>
			<pubDate>Wed, 07 Mar 2012 11:45:00 +0000</pubDate>
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			<title><![CDATA[RNS press release - Proposed investment - additional information ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/</link>
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			<pubDate>Wed, 07 Mar 2012 09:00:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/rns/120307pmhl8551y/</guid>
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			<title><![CDATA[News - Prosperity Minerals to invest in Malaysian iron ore operation ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html</link>
			<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals" class="companyPopupTrigger" rel="1315">Prosperity Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html" class="companyPopupTrigger" rel="1315">LON:PMHL</a>) is to invest in an iron ore company, which owns 70 per cent of the mining rights in two Malaysian mines, for a total of US$25 million.<br /><br />The company announced the conditional sale and purchase agreement to acquire a 5 per cent stake in All Wealthy Capital Ltd.<br /><br />The deal also involves an offtake agreement upon the acquisition&rsquo;s completion. Prosperity will then secure the right to buy 9.5 million tonnes of iron ore over a 10 year period at a discount to the prevailing market price.<br /><br />The proposed investment in All Wealthy and the offtake-agreement is in line with the company's strategy to continue to increase its investment in iron ore resources and to expand access to sources of iron ore at competitive prices for sale to end users in China.<br /><br />Prosperity's 100 per cent subsidiary, Pro-Rise entered into the sale and purchase agreement with Elite Force, which owns an 80 per cent interest in All Wealthy.<br /><br />Elite Force is 100 per cent owned by chairman and CEO of Prosperity, David Wong. After completion of the deal, Prosperity will hold a 3.5 per cent stake in a Malaysian iron ore operation. <br /><br />As well as 70 per cent of mining rights, All Wealthy owns a processing plant in Malaysia adjacent to the mines, which are currently under trial production with a future target production capacity of 3 million tonnes per year.<br /><br />Prosperity will pay US$7 million, or around &pound;4.4 million, as a&nbsp; refundable deposit by February 15 this year 2012 with the balance of US$18 million, or around &pound;11.3 million, due upon completion.<br /><br />The acquisition is expected to be finished by the end of March this year, subject to all regulatory approvals, including shareholder approval.<br /><br />Under an agreement with Prosperity International Holdings Ltd (PIHL) last month, in which it paid US$6 million as a refundable deposit, Prosperity has the option to participate in the acquisition of further interests in All Wealthy alongside PIHL, the firm added.</p> ]]></description>
			<pubDate>Fri, 10 Feb 2012 10:19:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/news/38832/prosperity-minerals-to-invest-in-malaysian-iron-ore-operation-38832.html</guid>
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			<title><![CDATA[RNS press release - Proposed Investment ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/</link>
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			<pubDate>Fri, 10 Feb 2012 09:07:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/rns/120210pmhl1911x/</guid>
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			<title><![CDATA[News - Prosperity Minerals encouraged by first apartment sales at Guangzhou City development ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html</link>
			<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals" class="companyPopupTrigger" rel="1315">Prosperity Minerals</a> Holdings (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html" class="companyPopupTrigger" rel="1315">LON:PMHL</a>) said it made the first presales of residential units at the Oriental Landmark development, Guangzhou City, on December 25 2011.<br /><br />Of the 184 units put up for sale, 79 were sold in the first two weeks up to January 8 2012. &ldquo;This is encouraging with both prices and results in line with the company's expectations,&rdquo; it told investors.<br /><br />The company continues to monitor prevailing market conditions to determine presale schedules and prices for units in the remaining three residential blocks and expects presales of all four residential blocks to have commenced by the end of 2012.<br /><br />Prosperity is focused on real estate ownership and development in China, and is invested in two cement manufacturers in the country.&nbsp; It announced in September 2010 that it was selling its iron ore trading business or US$38.6 million to its controlling shareholder, Prosperity International Holdings, so that it can focus on Chinese real estate.<br /><br />Prosperity acquired the Oriental Landmark property development project, previously referred to as Dongfang Wende Plaza, in August 2010. <br /><br />Since acquisition, the company has incurred some additional construction costs, administrative expenses and taxes. Nonetheless, based on current presale results and market conditions, management expects a good return on the sale of the residential units in this development, it said.<br />&nbsp;<br />Chairman and chief executive David Wong: "Current presale results reflect the strong demand for high end residential property in downtown Guangzhou City. I believe presales from all the residential units, once completed, will provide the company with a good return and that rental income from the commercial units will provide long term recurring income."</p> ]]></description>
			<pubDate>Mon, 09 Jan 2012 10:04:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/news/37587/prosperity-minerals-encouraged-by-first-apartment-sales-at-guangzhou-city-development-37587.html</guid>
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			<title><![CDATA[RNS press release - Trading Update ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/</link>
			<description><![CDATA[]]></description>
			<pubDate>Mon, 09 Jan 2012 09:06:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/rns/120109pmhl2043v/</guid>
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			<title><![CDATA[News - Prosperity Minerals is "significantly undervalued", says Daniel Stewart ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html</link>
			<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals" class="companyPopupTrigger" rel="1315">Prosperity Minerals</a> (<a href="/companies/overview/1315/prosperity-minerals-1315.html" class="companyPopupTrigger" rel="1315">LON:PMHL</a>) is 'significantly undervalued', says broker <a href="http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a>, which rates the stock a 'buy' and targets a price of 211 pence (current price: 87 pence).<br /><br />The firm, an iron ore trading business serving the People's Republic of China (PRC), is also a real estate owner and developer, and is invested in two cement manufacturers in the PRC.<br /><br />In September this year, the group unveiled plans to sell its iron trading business for US$38.6 million to its controlling shareholder, Prosperity International Holdings so that it can focus on Chinese real estate.<br /><br /><a href="http://proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> analyst Simon Wills, in a wide- ranging note, said that the firm's share price had fallen sharply since the middle of the year.<br /><br />This had been caused, he said, partly on fears of slowdown in China and a property bubble and more recently due to uncertainty created by the proposal to sell the firm's iron ore business.<br /><br />"This has resulted in a situation where the stake in Anhui Chaodong Cement (ACC) now accounts for almost the whole of the group's market cap," said the analyst.<br /><br />Wills said the Firm's ACC stake was now worth 70 pence, or 80 per cent of Prosperity's share price and the iron ore operations were valued by the broker at 7 pence per share.<br /><br />Thus, he said: "The Real Estate business is in the price almost for free."<br /><br />He added: "Our target price of 211p suggests the stock offers upside of 140 per cent. Even if Real Estate is valued on a 50 per cent discount to our estimate, the upside is 56 per cent."<br /><br />The firm's current valuation looked "churlish to say the least" said the analyst, who added that he looked towards news of pre sales at commercial and residential development Orient Landmark to pull the positive trigger.<br /><br />Last year, the firm bought&nbsp; Bliss Hero for HK$836 million, which holds interests in an existing commercial building - SilverBay Plaza and a new commercial and residential development - Oriental Landmark - in Guangzhou City in Guangdong Province.</p> ]]></description>
			<pubDate>Fri, 02 Dec 2011 13:24:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/news/36442/prosperity-minerals-is-significantly-undervalued-says-daniel-stewart-36442.html</guid>
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			<title><![CDATA[News - Prosperity Minerals sees increase in revenues and profits ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html</link>
			<description><![CDATA[<p>
<p>Chinese iron ore trading and cement business <a href="http://www.proactiveinvestors.co.uk/companies/overview/1315/Prosperity+Minerals" class="companyPopupTrigger" rel="1315">Prosperity Minerals</a> (<a href="/companies/overview/1315/prosperity-minerals-1315.html" class="companyPopupTrigger" rel="1315">LON:PMHL</a>) boosted its first-half revenues by 17 per cent to US$507.8 million while producing a pre-tax profit of US$8.4 million (H1 2011: US$2.5 million loss), the firm said today.</p>
<p>Reporting its interim results for the six months to September 30, Prosperity said that while the firm increased the amount of iron ore shipped during the first half to 2.8 million tonnes, from 2.7 million tonnes in H1 2011, its revenue increase was also due to higher average selling prices. However, the operating profit per tonne came in lower at US$3.6 million (H1 2011: US$6.6 million) because, the firm said, margins continue to come under pressure due to the abandonment of the industry&rsquo;s annual price fixing and greater direct trade between miners and steel mills.</p>
<p>Prosperity&rsquo;s cement operations produced an attributable profit of US$8.7 million, compared to a loss of US$0.6 million in H1 2011. The firm said that its 33 per cent-owned Anhui Chaodong Cement business produced and sold more cement and clinker as demand in its region was strong and average selling prices higher. The 16.1 per cent-owned TCC Liaoyang business produced an operating profit of US$0.2 million, but it ended up contributing a loss of US$1.9 million (H1 2011: US$0.04 million) due to as loss on demand disposal of US$2.1 million caused by a share issuance in August.</p>
<p>Prosperity said that its real estate development projects business made a loss of US$3.5 million, compared to a US$0.6 million profit in H1 2011.&nbsp;</p>
<p>&ldquo;I remain confident that the company will continue to trade well in both iron ore and real estate despite challenging market conditions brought about by an unsettled iron ore market and Chinese government policy, together with continuing global economic uncertainties,&rdquo; said David Wong, Prosperity&rsquo;s chairman and chief executive officer.</p>
<p>Prosperity&rsquo;s share price was down 1.8 per cent at 82 pence in early trading today.</p>
<div><br /></div>
</p> ]]></description>
			<pubDate>Tue, 29 Nov 2011 10:01:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/news/36256/prosperity-minerals-sees-increase-in-revenues-and-profits-36256.html</guid>
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			<title><![CDATA[RNS press release - Interim Results ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/</link>
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			<pubDate>Tue, 29 Nov 2011 08:32:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/rns/111129pmhl9486s/</guid>
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			<title><![CDATA[News - Prosperity Minerals agrees new iron ore supply deal ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html</link>
			<description><![CDATA[<p>
<p>Prosperity Minerals (<a href="/companies/overview/1315/prosperity-minerals-1315.html" class="companyPopupTrigger" rel="1315">LON:PMHL</a>) today announced that its wholly-owned iron trading subsidiary has signed a new deal.</p>
<p>Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore over a 14 month period.</p>
<p>This will be capped at 130,000 tonnes to the end of 2011, and 1.68 million tonnes in 2012.&nbsp;</p>
<p>PMMC will also provide a range of administrative services, including the handling of shipping documents and liaising with payment banks. &nbsp;</p>
<p>PMMC will receive a commission of US$2 per dry metric tonne of iron ore.&nbsp;</p>
<p>It will also receive a handling charge of US$2 per dry tonne of iron ore, if the letter of credit in relation to shipment includes payment terms of 90 days.</p>
</p>]]></description>
			<pubDate>Tue, 15 Nov 2011 09:21:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/news/35624/prosperity-minerals-agrees-new-iron-ore-supply-deal-35624.html</guid>
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			<title><![CDATA[RNS press release - PMMC Enters into Iron Ore Agency Agreement ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/</link>
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			<pubDate>Tue, 15 Nov 2011 08:46:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/rns/111115pmhl1030s/</guid>
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			<title><![CDATA[RNS press release - Notice of Interim Results and Update ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/</link>
			<description><![CDATA[]]></description>
			<pubDate>Thu, 10 Nov 2011 13:46:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/rns/111110pmhl8836r/</guid>
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			<title><![CDATA[News - Prosperity Minerals Holdings loans $10mln to iron ore joint venture ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html</link>
			<description><![CDATA[<p><strong>Prosperity Minerals Holdings (<a href="/companies/overview/1315/prosperity-minerals-1315.html">LON:PMHL</a>)</strong> today loaned a further US$10 million to its part-owned business Globest Participaceos (GPL), taking the amount of total loans to the company to US$22.8 million.<br /><br />Prosperity holds a 35 percent interest in United Goalink Limited (UGL), a joint venture company involved in the exploration and production of iron ore in Brazil. GPL is an indirect subsidiary of UGL, which holds 602.3 square kilometres of exploration rights and 3.01 square kilometres of mining concessions in Brazil.<br /><br />UGL will use the funds to set up an iron ore processing plant, upgrade facilities and cover other operational expenses.<br /><br />These upgrades are expected to increase production volume and quality, bringing enhanced profit and cashflow to Prosperity Minerals.<br /><br />Of this, US$8.6 million should be repaid until 24 January 2012 and a further US$1.4 million has to be repaid by the end of August 2013.<br /><br />The balance is to be repaid upon written demand in two tranches of US$2.8 million and US$10 million by August 29 2013 and end October 2013 respectively.<br /><br />In the period between January and August this year, Prosperity loaned US$12.8 million to GPL at an annual interest rate of 8 percent.<br /><br />A month ago, Prosperity changes its plans to sell its Chinese iron trading business for US$38.6 million to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.<br /><br />However, a number of independent shareholders, representing a significant shareholding in Prosperity, said they would &lsquo;very much like&rsquo; the company to retain the business unit.<br /><br />Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.<br /><br />This morning, shares in Prosperity fell 1 percent to trade at 92 pence, giving the company a market cap of &pound;132 million.</p>]]></description>
			<pubDate>Mon, 31 Oct 2011 10:45:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/news/34991/prosperity-minerals-holdings-loans-10mln-to-iron-ore-joint-venture-34991.html</guid>
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			<title><![CDATA[RNS press release - Loan Transactions ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/</link>
			<description><![CDATA[]]></description>
			<pubDate>Mon, 31 Oct 2011 09:04:00 +0000</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/rns/111031pmhl1337r/</guid>
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			<title><![CDATA[News - Prosperity Minerals Holdings signs new relationship deed with controlling shareholder ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html</link>
			<description><![CDATA[<p><strong>Prosperity Minerals Holdings (<a href="/companies/overview/1315/prosperity-minerals-1315.html">LON:PMHL</a>)</strong> has signed a new relationship deed with Prosperity International Holdings (PIHL), enabling PMHL to carry its business independently of control from its largest shareholder.<br /><br />The new relationship deed, which will regulate the conduct of the relationship between PMHL and its controlling shareholder PIHL, replaces a similar agreement between the companies signed at the time of Prosperity&rsquo;s flotation on the AIM market in 2006.<br /><br />Under the terms of the new agreement, all transactions between PIHL, Prosperity Minerals and any of its subsidiaries will be carried out &ldquo;at arm's length and on a normal commercial basis&rdquo; and free of the control that PIHL would have otherwise been able to exercise through its shareholding.<br /><br />In particular, PIHL has agreed not to influence any director of PMHL and its subsidiaries regarding their day to day operations.<br /><br />Prosperity Minerals operates as an iron ore trader and real estate developer, in the People&rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.<br /><br />PIHL became the controlling shareholder of Prosperity in August 2009 and currently holds a 64.07 percent interest in the company.<br /><br />Co-founder, chairman and chief executive of Prosperity Minerals David Wong holds a total 64.11 percent interest in PIHL.<br /><br />The relationship deed will terminate when the aggregate shareholding of PIHL and its associates falls below 30 per cent of the shares of the company.<br /><br />The new agreement came less than a month after Prosperity Minerals changed its plans to sell its Chinese iron trading business to PIHL for US$38.6 million after being informed by its independent shareholders that they would &ldquo;very much like&rdquo; to retain the unit.</p>]]></description>
			<pubDate>Wed, 26 Oct 2011 10:44:00 +0100</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/news/34818/prosperity-minerals-holdings-signs-new-relationship-deed-with-controlling-shareholder-34818.html</guid>
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			<title><![CDATA[RNS press release - Relationship Deed ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/</link>
			<description><![CDATA[]]></description>
			<pubDate>Wed, 26 Oct 2011 09:47:00 +0100</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/rns/111026pmhl8663q/</guid>
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			<title><![CDATA[News - Prosperity Minerals to retain iron trading business ]]></title>
			<link>http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html</link>
			<description><![CDATA[<p>Prosperity Minerals Holdings (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1315/prosperity-minerals-1315.html"><a href="/companies/overview/1315/prosperity-minerals-1315.html">LON:PMHL</a></a>) has revealed a u-turn in its plan to sell its Chinese iron trading business.<br /><br />Earlier this month the company unveiled a US$38.6 million deal to sell its iron trading business to an associated company Prosperity International Holdings (H.K.) Limited - which owns 64.07 per cent of Prosperity Minerals Plc.<br /><br />However, today Prosperity said that it has been informed by a number of independent shareholders, representing a significant shareholding in Prosperity, that they would &lsquo;very much like&rsquo; the company to retain the business unit.<br /><br />Consequently Prosperity has decided that it will not pursue the disposal at this time. This also means that the company&rsquo;s proposed special dividend &ndash; which would have been the second this year &ndash; will not go ahead either.<br /><br />Going forward Prosperity will continue to operate as an iron ore trader and real estate developer, in the People&rsquo;s Republic of China. It also retains its investments in two PRC cement manufacturers.<br /><br />"I remain confident about sustained and strong demand for iron ore in the PRC and Prosperity will continue to develop and enhance its iron ore business together with real estate. I look forward with confidence," said chairman and chief executive David Wong.</p>
<p>&nbsp;</p>]]></description>
			<pubDate>Fri, 30 Sep 2011 13:25:00 +0100</pubDate>
			<guid>http://www.proactiveinvestors.co.uk/companies/news/33816/prosperity-minerals-to-retain-iron-trading-business-33816.html</guid>
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