Monday, June 13, 2011

Astra Mining sign JV with Nigerian Company to Pursue Mining Opportunities

Astra Mining, an Australian diversified mining company, has signed a joint venture agreement to develop mining licenses in the natural resource rich Nigeria

Adelaide, Australia, June 12, 2011 - Astra Mining, an Australian diversified mining company, has signed a joint venture agreement to develop mining licenses in the natural resource rich Nigeria

The agreement has been struck with Tirogo Nig. Ltd, which is part owned by the founder and Chairman of the Australia-Nigeria Council, Ade Kukoyi.

Mr Kukoyi is a highly regarded Nigerian national who established the Council to encourage and promote trade and economic opportunities between the two countries.

The joint venture has formed a Singapore registered company (which owns a Nigerian subsidiary) to take advantage of the favourable tax structure and treaty in place between Singapore and Nigeria.

The Nigerian subsidiary is the holder of an export licence in respect to mining related products.

Astra CEO Dr. Jaydeep Biswas says the joint venture agreement is a major step forward for the company in its international expansion plans.

‘The joint venture has been established to develop various mining licences in Nigeria and, through its wholly owned Nigerian subsidiary Bingi Commodities Nig. Ltd, establish separate special purpose vehicles for every mining licence to be acquired and developed in Nigeria," Dr. Biswas says.

"Provision for the shareholding of local landowners in Nigeria will be made within every special purpose vehicle established.

"In addition to the development of mining licences in Nigeria, the joint venture will engage in any projects relating to iron ore, coal, oil, gas, gold and other commodities relating to the steelmaking process, and the provision of mining housing infrastructure for the resources industry in Nigeria."

Astra believes the signing of the agreement will greatly assists the diversification of the company, and will add an enormous income stream going forward.

Dr. Biswas says Astra’s investment in Nigeria is not only an investment in the future of the resource rich country but also in the future growth of Astra Mining.

Astra Mining’s global portfolio includes gold and tin interests in south east Asia and southern India, coal mines in Australia, iron ore in India, and the production of a new high-strength steel technology.

Astra has also announced its plans to list on the Frankfurt Stock Exchange in the coming months.

Caitlin Petrou
Astra Mining
46 Tynte Street
North Adelaide SA 5006
+61 (0) 402 823 343

Listed Online Gaming and Entertainment Company Strikes deal with Asian Betting Giant

Listed online gaming and entertainment company 2UP (2GM:GR) has finalised a partnership deal this week with one of Asia’s largest pool betting companies ToteDaddy.

London, UK, June 13, 2011 - The deal will see 2UP’s range of popular gaming and wagering products made available to ToteDaddy’s substantial global membership base providing 2UP with immediate high-traffic exposure to the Asian online gaming market.

The first game to be released from 2UP is its live streaming and animated versions of the classic Australian coin-tossing game.

2UP managing director Peter Bentley says the deal will parachute the company directly into an established database of active customers providing an immediate audience for its products.

"This is a strategic partnership between the two companies providing an established audience to 2UP and a new suite of online gaming products to ToteDaddy," Mr Bentley says.

"One of the main hurdles for a company such as ours is distribution, and by partnering with one of the largest pool betting companies in Asia we are able to propel ourselves into a whole new market very quickly.

"ToteDaddy is a well established business and the provision of new products to their members will allow it to continue its dominance in the gaming market."

2UP, with offices in the UK and Australia, listed on the Frankfurt Stock Exchange in early May and has already achieved exponential growth in its share price.

Mr Bentley says the deal with ToteDaddy was the first in a number of strategic partnerships designed to rapidly grow the company’s presence on an international gaming and wagering stage.

"We are in negotiations with a number of other businesses that will also provide large networks of wagerers with access to our products," Mr Bentley says.

"This model is a win-win situation as we are able to provide innovative and cutting edge products to established markets who are looking to retain membership through the ongoing roll-out of new games."

2UP has an online gaming license granted until 2025 to capitalise on its market positioning.

The core focus of the company is the coin toss game, a game that is played in most countries around the world where players make a call on whether two coins being tossed in the air will fall as two tails or two heads. A correct call wins.

This will be underpinned by other unique and established gaming and wagering options to be released as part of its growth plans.

Bruce Nelson
2UP Plc
Office 11
10 Great Russel Street
London, WC1B 3BQ
+61 (0)423 403 449