PEM 0.00% 35.0¢ perilya limited

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    Looking good with possible merger coming up with Ranger?


    HOMEX - Perth

    +++++++++++++++++++++++++
    Perilya Limited ("Perilya") is pleased to advise that it has today
    successfully completed the acquisition of the Broken Hill
    lead-zinc-silver mine front Pasminco Limited (Administrators
    Appointed) ("Pasminco").

    Perilya has brought forward the three month and six month stage
    payments to Pasminco, each of $5 million. All fixed payments due
    under the Sale & Purchase Agreement amounting to $35 million have now
    been made.

    Pasminco will today make the entire workforce redundant and hand over
    the mine to Perilya. Perilya will over the next few weeks complete a
    repair and maintenance programme, workforce recruitment and safety
    training induction programme, prior to commencing mine production in
    late June.

    T M Cliffon
    MANAGING DIRECTOR


 
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