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Monto Minerals Ltd - Statement re. Suspension

RNS Number : 5283W Monto Minerals Ltd 12 June 2008 Monto Minerals Limited Statement re Suspension and Resignation of Director Monto Minerals Limited (the 'Company'), an industrial minerals company, announces that it has requested that trading in its shares on AIM be suspended with immediate effect. As announced by the Company on 3 March 2008, the ramp up in production at the Company's Goondicum mine has been slower than expected which has resulted in an increase in the Company's working capital requirements. The Company has requested a suspension in the trading of its ordinary shares pending the outcome of discussions aimed at resolving these funding requirements. The request for suspension has been approved by London Stock Exchange plc and accordingly trading is now suspended with immediate effect. A further announcement is expected before 7.30 a.m. (BST) on Monday 16 June 2008. Trading in the Company's ordinary shares was also halted today on the ASX. Mark McCauley has today tendered his resignation as a Non-Executive Director of the Company on the basis of a conflict of interest. Mr McCauley is presently a director of RMM Capital, a Queensland based private equity firm. RMM Capital has previously arranged funding for the Company by way of a convertible loan note as announced on 13 April 2007. Enquiries: Peter Slaughter, Non-executive Chairman - +61 411 228 206 Richard Brown, Richard Greenfield, Ambrian Partners Limited - +44 (0) 20 7634 4700 This information is provided by RNS The company news service from the London Stock Exchange END SRSFKDKBOBKDOAD

Quick facts: Montero Mining and Exploration Ltd

Price: 0.035

Market: TSX-V
Market Cap: $765.83 k
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