Following more disappointing results from numerous drill samples, Sino-Sud Resources announced an indefinite hold on preparations for the company's initial public offering.
February 25, 2014 (Newswire) - Originally slated for this year, the Sino-Sud Resources IPO was to fund company expansion after positive preliminary surveys of several test sites. More in-depth sampling has revealed far smaller reserves than previously expected, some too small to be worth further development.
Interested potential investors are asked to be patient while the company re-evaluates its fund raising strategy in light of these findings. More details will be released as they become available.
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