AI assistant
CRITICAL RESOURCES LIMITED — M&A Activity 2013
Apr 11, 2013
64708_rns_2013-04-11_9f9ef67b-93d5-46ac-8a60-57f4304db6c4.pdf
M&A Activity
Open in viewerOpens in your device viewer
ASX Release 12[th] April 2013
==> picture [44 x 43] intentionally omitted <==
Gossan Hill Offer Closed
Sovereign Gold Company Limited ACN 145 184 667
Level 2, 131 Macquarie Street Sydney NSW 2000 Tel: +61 2 9251 7177 Fax: +61 2 9251 7500
-
30,050,000 Gossan Hill shares acquired by Sovereign Gold representing 93.91% of Gossan Hill
-
Cash Consideration – $187,813
-
Script Consideration – 1,878,125 Sovereign Shares at $0.25 ($469,531)
-
Total consideration paid $657,344
Contact Michael Leu CEO
email: [email protected]
Latest News www.sovereigngold.com.au
Directors / Officers John Dawkins AO Michael Leu Peter Meers Jacob Rebek
ASX Symbol: SOC
- Settlement 15 April 2013
Sovereign Gold Company Limited’s (Sovereign Gold ASX: SOC) offer for all the shares in Gossan Hill Gold Limited (Gossan Hill) has closed.
Sovereign Gold acquired 30,050,000 Gossan Hill shares (93.91%) and will issue a total of 1,878,125 shares to Gossan Hill shareholders who accepted into the bid and will make cash payments to the accepting shareholders, totalling $187,813.
Settlement of the offer will take place on Monday 15 April 2013.
Sovereign Gold’s voting power in Gossan Hill is 93.91%.
Peter Meers and Michael Leu have joined the board of Gossan Hill.
Andrew White continues as a director of Gossan Hill, and the other officers have resigned.
Sovereign Gold’s Managing Director, Michael Leu commented:
“We thank the outgoing board of Gossan Hill for their efforts in developing the Gossan Hill portfolio.
“We look forward to the road ahead in advancing these prospects, to the benefit of our shareholders and we welcome the Gossan Hill shareholders who accepted our offer to Sovereign Gold.”
Drilling of the Mt Adrah Hobbs Deposit is to commence in May 2013.
Qualifying Statements
The information in this Report that relates to Exploration Information is based on information compiled by Michael Leu who is a member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists.
Mr Leu is a qualified geologist and is a director of Sovereign Gold Company Limited.
Mr Leu has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Resources. Mr Leu consents to the inclusion in this announcement of the Exploration Information in the form and context in which it appears.
The initial Exploration Target for the Hobbs Deposit is 1.5–2.5 million ounces gold with a grade range 1.13–1.45 g/t contained in 41.2–53.6 million tonnes.
For further information please contact: Michael Leu, CEO Telephone: +61 2 9251 7177
Media enquiries:
Justin Kelly, Mercury Consulting Mobile: +61 408 215 858 [email protected]
Exploration Targets:
The potential quantity and grade of exploration targets is conceptual in nature. There has been insufficient exploration to define a Mineral Resource (other than the 239k Inferred JORC resource previously declared, ASX: 13 March 2013) and it is uncertain if further exploration will result in the determination of a Mineral Resource.