HONG KONG, Aug. 2 /PRNewswire-Asia/ -- Lumena Resources Corp. ("Lumena" or the "Company", HKEx Stock Code: 67) is pleased to announced that as confirmed by the Company's controlling shareholder, Nice Ace Technology Limited ("Nice Ace"), the Loan from Bank of China International ("BOCI") has been fully repaid and the share charge was released on 30 July 2010.
Mr. Zhang Daming, Executive Director and CEO of Lumena, said, "We welcome and support the early repayment of the loan and also the release of share charge put forth by our controlling shareholder, who has shown his complete confidence in the business prospect of Lumena. With our strong R&D capabilities, we are set to roll out more high-margin thenardite products in the future to further enhance our competitiveness and sustain our rapid growth as well as high profitability, to bring fruitful returns to our investors."
About Lumena Resources Corp.
Lumena focuses its operations on the mining, processing and manufacturing of natural thenardite products, and is the second largest thenardite producer in the world in terms of production capacity as of 31 December 2008note 1. Equipped with the world's largest single line production facility, the Company produces high quality thenardite products, including powder thenardite, specialty thenardite and medical thenardite. Lumena operates two captive underground glauberite mines in the Dahongshan Mining Area and the Guangji Mining Area and have acquired mining rights in Muma Mining Area in Sichuan Province. It is expected that the Company's production capacity will increase from 1.6 million tpa in 2009 to 2.2 million tpa in 2010. There is a total of approximately 57.2 million tonnes of proved and probable thenardite reserves pursuant to the JORC Code, located in these three mining areasnote 2, as of February 2009. Its reserves are higher than the average grade in China, according to JT Boyd.
*Note 1: Behre Dolbear & Company (USA) Inc., an independent market research consultant
*Note 2: John T. Boyd Company
For further information, please contact:
Porda International (Finance) PR Company Limited
Ms. Harriet Lau
Tel: +852-3150-6761
Email: harriet.lau@pordafinance.com.hk
Ms. Sharis Siu
Tel: +852-3150-6771
Email: sharis.siu@pordafinance.com.hk
Ms. Fiona Ko
Tel: +852-3150-6750
Email: fiona.ko@pordafinance.com.hk
