Following more disappointing results from numerous drill samples, Sino-Sud Resources announced an indefinite hold on preparations for the company's initial public offering.
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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Investors should never rely solely on the information contained in this article. The information contained in this article is not a substitute for independent professional guidance. Advice should be acquired from an investment advisor who has the authority to trade in Sino-Sud Resources securities. Duplication, re-transmission or modification of this article, either electronically or otherwise is strictly prohibited without the express permission of Sino-Sud Resources. An official copy of this article can be obtained by sending a self addressed envelope to Sino-Sud Resources, Level 54 Guangzhou IFC, No.5, Zhujiang Road West, Guangzhou 510623 PRC, China. Please use our contact us form on the companies official website at sinosud.com for any other enquiries.