Korea Resources Corporation MOI Update
Segue Resources Limited (ASX code: SEG) (Segue or the Company), a Western Australian minerals exploration company wishes to advise shareholders that the non-binding Memorandum of Intent (MOI) it entered into with a Korean lead consortium on 30 November 2010, lead by Korea Resources Corporation (KORES) in relation to the Company's Pardoo magnetite iron project, will not continue.
After reviewing all relevant information supplied by the Company, the consortium has decided not to continue pursuing the magnetite iron project. Going forward the consortium has expressed a desire in cementing a cooperative relationship with the Company for alternative transactions.
The Company continues to evaluate potential new mineral opportunities.
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