Tuesday, January 12, 2010

Merged Olympus to replace Zedex on ASX

Following its amalgamation with Olympus Pacific Minerals Inc (TSX: OYM) on 17 December 2009, Zedex Minerals Limited will cease to trade on the Australian Stock Exchange. Olympus is expected to list on the ASX on 29 January with the code OYM.

According to CEO David Seton, Olympus is now positioned to expand gold production in Southeast Asia from its core properties and has established a production time line that increases the company's annualized production to 115,000 oz of gold by early 2012 and a production pipeline capable of further expansion to some 300,000 oz by 2014. The company is also finalizing 2010 exploration budgets to further expand its Reserve and Resource Estimates in East Malaysia and Vietnam.

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