BVI-based Crystal River involved in agreement with two mining companies

The mining company Ivanhoe Mines Ltd will sell 1 per cent of its share interest in Kamoa Holding Limited to the British Virgin Islands-incorporated private company Crystal River Global Limited, for US$8.32 million which will be paid through a non-interest-bearing, 10-year promissory note. The BVI company is headquartered in HK and controlled by Mr. So Hon Chun who had been involved with Ivanhoe Capital Corporation. Kamoa Holding Limited is the subsidiary of Ivanhoe which presently owns 95 per cent of the Kamoa Project in Central Africa – one of the three principal projects of Ivanhoe, also positioned to become one of the world’s largest copper mines.

The agreement between Ivanhoe and Crystal River is part of the agreement signed between the mining company and Zijin Mining Group Co., Ltd to a strategic co-development in the Kamoa copper discovery. Under its terms, Zijin, through its subsidiary Gold Mountains (HK) International Mining Company Limited, will buy a 49.5 per cent interest in Kamoa Holding, for an aggregate amount of US$412mln.

Zijin also committed to arrange or procure the financing of the Kamoa project for 65 per cent of the capital needed for the first phase of work. Upon the successful arrangement or procurement of the project financing, Zijin will have the right to acquire 1 per cent share interest in Kamoa Holding, purchased by the BVI company. If the 1 per cent option is not exercised within seven years, it will expire, and then both parties will have the right to purchase one-half of the 1 per cent from Crystal River. Upon closing of the transaction, each shareholder will fund Kamoa Holding proportionately to its interest.

BVI-registered Lang International acquires shares of American Quantum Energy Corporation

Oil and gas company Canadian Quantum Energy Corp. made an announcement that British Virgin Islands-registered company Lang International Holdings Limited purchased all of the issued and outstanding shares of Delaware-based American Quantum Energy Corporation, which is the wholly-owned subsidiary of Canadian Quantum. This announcement followed the investment agreement previously signed in May 2014, and private placement offering completed by Canadian Quantum on November 2014. The BVI company acquired shares in exchange for the settlement of all debt owing by Canadian Quantum to Lang International, in the aggregate principal amount of US$1,485,239.73.

The only asset of American Quantum Energy is the seismic equipment purchased from BVI company’s associate at a purchase price of US$1,097,100, paid by the issuance of 10,971,000 common shares of Canadian Quantum, at US$0.10 per share.

Bestinfond purchased shares of BVI-based retailer

International investor Bestinfond based in Spain has recently purchased shares in four companies, among them the British Virgin Islands-incorporated Lenta Ltd (LNTA), the company operating retail chains in Russia. 2,793,164 shares of the BVI company were acquired at an average price of US$6.58 per share, during the first quarter of 2015. This resulted in a 30 per cent overall gain, given that currently shares of LNTA are traded at US$8.55 per share. Also, taking into account the trading price, there is a -55 per cent margin of safety, as according to DCF calculator LNTA’s intrinsic value is US$5.15 per share.

LNTA is operating standard, compact and supercompact hypermarkets, the company announced the second consecutive year of market-leading sales growth and selling space growth.