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DGR GLOBAL LIMITED — Capital/Financing Update 2012
Jun 12, 2012
64771_rns_2012-06-12_842b269a-21e8-449c-8358-122767e7e2e9.pdf
Capital/Financing Update
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DGR Global Limited
13 June 2012
Market Update of Global Resource Industry Interests
Further to previous market updates, the Board of Directors of DGR Global Limited (ASX:DGR) is pleased to report the continued development of its wider global resource industry interests with the following recent developments:
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The recent announcements by ASX‐listed Mt Isa Metals Limited (DGR: 50 million shares: 30.6%) regarding the further progress of its Nabanga Gold Project in Burkina Faso. Mt Isa Metals has engaged a firm of independent geological experts to commence the calculation of its maiden gold resource estimate at Nabanga, which is one of three (3) main gold project areas in which the Company is currently active in Burkina Faso.
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The recent announcements made by Armour Energy Limited (DGR: 75 million shares: 25%) regarding:
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Encountering a gas show from its first well (Cow Lagoon 1) in its exploration and drilling program in the MacArthur Basin region of its granted Northern Territory tenements. Cow Lagoon 1 encountered gas from indeterminate zones in the Reward Dolomite between 342 and 540 metres depth. The gas show was encountered during air mist drilling in a tight calcite cemented dolomitic shale with poor porosity and permeability. The flare shown in the photograph below is driven from the well by the reintroduction of compressed air into the well after the connection of an additional pipe into the drill string during drilling. The drilling of Cow Lagoon 1 is continuing to allow Armour Energy to collect cores through the Barney Creek Shale and Coxco Dolomite, in order to test for thermal maturity, organic carbon content, liquids and gas content.
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The decision to extend the drilling depth of the Cow Lagoon 1 well to 1800 metres in order to test deeper targets indicated by seismic data interpretation.
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The successful tender for Queensland permit ATP 1107 which lies immediately south of, and adjacent to, Armour Energy’s existing Queensland tenement position ATP 1087 (refer location map below). This effectively doubles Armour Energy’s Queensland ground position from approximately 1.8 million acres to 3.6 million acres, increasing its exposure to the South Nicholson Basin and in particular the Lawn Hill Formation within the underlying Isa Super Basin.
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On behalf of the board Karl Schlobohm Company Secretary
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Picture of gas burning from the end of the 8” diameter blooie pipeline, venting Armour Energy’s Cow Lagoon 1 well
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Location Map – Armour Energy’s ATP 1107 and ATP 1087 in Queensland
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About DGR Global Limited
DGR Global 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 DGR Global’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 DGR Global. 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 DGR Global, invest in the resource company generating business which retains a significant carried interest in each project.
DGR Global 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, DGR Global 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 DGR Global 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. These efforts are now being dedicated to DGR Global.
DGR Global currently holds 50 million shares (30.6%) in Mt Isa Metals Limited (ASX: MET) currently exploring for gold in Burkina Faso, 33.2 million shares (10.6%) in Solomon Gold plc (LSE: SOLG) currently exploring for gold and copper in the Solomons, Ecuador and Queensland, 59.8 million shares (41%) in AusNiCo Limited (ASX: ANW) exploring for nickel sulphides, cobalt, gold and silver in south east Queensland, and 27 million shares (29%) in Navaho Gold Limited (ASX: NVG) exploring for Carlin style gold in Nevada and New Mexico (USA) and Queensland.
DGR Global is currently progressing the corporate development of Archer Resources Limited (focussing on copper‐ gold‐silver porphyry systems) and IronRidge Resources Limited .
DGR Global currently has 324,202,760 shares on issue.
Email: [email protected]
Electronic copies and more information are available on the Company website: www.dgrglobal.com
For further information contact:
Mr Nicholas Mather Managing Director DGR Global Ltd Ph: 07 3303 0680
Karl Schlobohm Company Secretary, DGR Global Ltd Ph: 07 3303 0680
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