SINGAPORE, July 30 (Bernama) -- LionGold Corp Ltd, Singapore's first
Main Board-listed gold company, has entered into an agreement to acquire
all of the outstanding shares of Acadian Mining Corporation at a price
of C$0.12 each.
Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=966981
Published: July 31, 2013
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/guld/Article/
Published: July 31, 2013
The takeover offer corresponds with a transaction value of up to S$9.1
million (C$7.4 million), assuming full acceptance from outstanding
shareholders and conversion of outstanding convertible notes.
In a statement, it said the shares will be paid for in cash from the Group's bank deposits.
Acadian is listed on the TSX Venture Exchange with multiple gold tenements in Nova Scotia, Canada.
The company is backed by an experienced team, which is focused on the Beaver Dam and Fifteen Mile Stream projects.
These are within the Meguma Gold Terrain and hold a combined resource of 1.333 million ounces of mainly free-milling gold.
The resource at Fifteen Mile Stream has recently been upgraded, and
efforts are underway for a detailed feasibility study for an open pit
mine with a centralised processing facility.
The area enjoys excellent infrastructure support and a climate conducive to year-round mining activities.
LionGold purchased an initial 9 per cent of Acadian through the
subscription of a 6 million new share placement in March 2013 at a price
of C$0.09 per share.
The Group is of the view that the proposed investment provides an
inexpensive foothold in an underexplored gold-bearing region in Canada
that is consonant with a longer-term plan to create a North American hub
of gold mining operations.
-- BERNAMA
No comments:
Post a Comment