AI assistant
DGR GLOBAL LIMITED — Capital/Financing Update 2010
Dec 2, 2010
64771_rns_2010-12-02_1022e442-d06a-48f5-86ab-57a08bb47b4a.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [174 x 54] intentionally omitted <==
ASX Announcement
3 December 2010
Market Update ‐ Solomon Gold
The Directors of D’Aguilar Gold Limited (ASX Code: DGR) are pleased to draw the attention of shareholders to last night’s announcement by Solomon Gold Plc (LSE(AIM) Code: SOLG) in relation to its 100% owned projects at Mt Perry and Rannes in Queensland, and Fauro Island in the Solomons.
Exploration ‐ Rannes
Assay results have been received for various prospects within the Rannes Project. Encouraging results have been received for drill holes at Brother, Cracklin Rosie and Crunchie. Further drilling is now planned for the Brother prospect.
The Company has continued to discover mineralized prospects returning gold intersections over a 25km long north‐westerly trend at Rannes. The discoveries provide further support for Solomon Gold’s development of a new Carlin‐style sediment hosted gold trend on the eastern margin of the Bowen Basin in Queensland.
Exploration – Mt Perry
Excessive rain has hampered the rate of drilling and subsequent assays. However, work continues at the Bania, Spring Pig, Nikos South and Augustine prospects. Drilling is presently underway at Spring Pig.
Exploration ‐ Fauro
Solomon Gold has received the grant of the Fauro East prospecting licence over Masamasa and Piru Islands, east of the existing Fauro Prospecting licence. The grant of Fauro East is expected to double the available inventory of rich gold and copper targets in the Fauro Caldera.
Fieldwork (geological mapping, trenching BLEG and rock sampling) continues over the Fauro Prospects. The 9,900m drilling program is expected to commence at Fauro on Schedule in mid‐ December.
Corporate
Following its successful A$24 million capital raising, Solomon Gold reached agreement with D’Aguilar Gold for the early repayment of the $1 million Convertible Note, due to expire on 19 February 2011.
Due to the regulatory limitations placed on D’Aguilar’s ability to summarise these results, shareholders are encouraged to read the full Solomon Gold announcement. The announcement can be viewed in full under the “Latest News” section of the Solomon Gold website: solomongold.com
D’Aguilar Gold Limited holds 35.2 million shares in Solomon Gold, which equates to 12.6% of the issued capital.
R:\D'Aguilar Gold\ASX, ASIC & LINK\ASX\ASX announcements\2010 Announcements\2010.12.03 ‐ ASX Announcement ‐ SOLG Announcement (Market Update).doc
1
==> picture [174 x 54] intentionally omitted <==
==> picture [150 x 29] intentionally omitted <==
On behalf of the Board K M Schlobohm Company Secretary
Competent Persons Statement
The information herein that relates to exploration results and exploration targets is based on information compiled by Nicholas Mather B.Sc (Hons) Geol., who is a Member of The Australian Institute of Mining and Metallurgy. Mr Mather is employed by Samuel Holdings Pty Ltd which provides certain consultancy services including the provision of Mr Mather as the Managing Director of D’Aguilar Gold Ltd (and a director of D’Aguilar Gold Ltd’s subsidiaries).
Mr Mather has more than five years experience which is relevant to the style of mineralisation and type of deposit being reported 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, Minerals Resources and Ore Reserves’ (the JORC Code). This public report is issued with the prior written consent of the Competent Person(s) as to the form and context in which it appears.
ABOUT D’AGUILAR GOLD
D’Aguilar Gold Limited is focused on generating exploration and development companies in a wide array of minerals.
Projects are conceived directly through the skills and experience of D’Aguilar’s accomplished team of exploration geoscientists (with an enviable track record), not by the costly purchase of properties. Each project or exploration strategy is held in a separate subsidiary.
Focused and specialist management is then engaged in the subsidiary, with project specific finance raised in the subsidiary – faster and less dilutive to D’Aguilar. As the subsidiary project develops and starts to derisk the subsidiary is separately capitalised (seed raisings followed by an IPO).
Investors can choose to invest specifically in a particular project/commodity, or by investing in D’Aguilar, invest in the resource company generating business which retains a significant carried interest in each project.
D’Aguilar projects tend to be very large, targeting new provinces with the potential to make world‐class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub‐economic deposits into viable projects, D’Aguilar subsidiary projects frequently emerge from detailed reassessment and reinterpretation of large databases – looking at things from a new angle and with a different focus using state of the art techniques. The D’Aguilar Directors and Managers have in the past applied new exploration models to extensive tenement areas which have led to identification of new mineral provinces and the discovery of nationally significant resources. Similar efforts are now being dedicated to D’Aguilar.
D’Aguilar Gold currently holds 52 million shares (37.9%) in Mt Isa Metals Limited (ASX: MET) embarking on an exciting gold strategy in Burkina Faso, 35.2 million shares (12.6%) in Solomon Gold plc (LSE: SOLG), and 58.5 million shares (53.5%) in AusNiCo Limited (ASX: ANW).
D’Aguilar is progressing the IPO and ASX listing of Navaho Gold Pty Ltd (gold and silver). Further, D’Aguilar has announced the proposed merger of its 86% owned Ridge Exploration (iron ore, titanium and aluminium) with Canadian‐listed Coltstar Ventures Inc.
R:\D'Aguilar Gold\ASX, ASIC & LINK\ASX\ASX announcements\2010 Announcements\2010.12.03 ‐ ASX Announcement ‐ SOLG Announcement (Market Update).doc
2
==> picture [174 x 54] intentionally omitted <==
In the development pipeline, D’Aguilar is also progressing plans for other subsidiaries – Anduramba Molybdenum (molybdenum and copper) and Barlyne Mining (porphyry copper, gold and molybdenum) and its energy‐focused subsidiary Armour Energy . Several other projects are at earlier stages of development, and will be announced to the market when exploration tenements have been secured.
D’Aguilar has 322,202,760 shares on issue.
Email: [email protected]
Electronic copies and more information are available on the Company website: www.daguilar.com.au
For further information contact:
Mr Nicholas Mather Managing Director D’Aguilar Gold Ltd Ph: 07 3303 0680
Karl Schlobohm Company Secretary D’Aguilar Gold Ltd Ph: 07 3303 0680
R:\D'Aguilar Gold\ASX, ASIC & LINK\ASX\ASX announcements\2010 Announcements\2010.12.03 ‐ ASX Announcement ‐ SOLG Announcement (Market Update).doc
3