Wonmunna Transaction – Independent Expert’s Report
Ascot Resources Limited (Ascot) (ASX: AZQ) refers to its announcement of 18 March 2014 relating to the proposed acquisition of the Wonmunna Iron Ore Project from Ochre Group Holdings Limited (Transaction).
Ascot commissioned BDO Corporate Finance (WA) Pty Ltd (Independent Expert) to prepare an Independent Expert’s Report (Report) to express an opinion as to whether or not the Transaction is fair and reasonable to the non-associated shareholders of Ascot. A copy of the report is attached. For the reasons set out in the report, the Independent Expert has concluded that, in the absence of any other relevant information, the Transaction is fair and reasonable to shareholders. A Notice of Meeting, including a copy of the Report, will be sent to shareholders in the coming weeks.