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IONDRIVE LIMITED M&A Activity 2006
65132_rns_2006-01-11_8ead3ecf-fec2-45ea-a379-dbaab6d7d494.pdf
M&A Activity
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12 January 2006
Company Announcements Office Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000
Dear Sir /Madam
The Directors of Southern Gold Limited (ASX: Code SAU) acknowledge the takeover bid for Joint Venture partner Hindmarsh Resources Limited (ASX Code: HMR) by Mega Uranium Limited, as announced yesterday.
Southern Gold has joint ventures with Hindmarsh Resources exploring for palaeochannel uranium and Olympic Dam style copper gold uranium targets on seven Exploration Licences covering over 3,000 km2 of the Gawler Craton. This offer for Hindmarsh confirms international interest in these very prospective tenement holdings in one of the world's major Uranium provinces.
Mega Uranium has a market capitalisation of A213 million, is listed on the TSX Venture Exchange in Canada and has a focus on uranium properties in Australia, Argentina, Mongolia and Canada.
Southern Gold looks forward to continuing an aggressive exploration program in the Joint Venture tenements, with Mega Uranium, in the event that the bid by Mega Uranium is successful.
Yours faithfully
S BIGGINS Managing Director
Contact:
Mr Stephen Biggins Managing Director Phone: +61 (0) 8 8132 0044 $+61(0)881320199$ Fax:
The information in this report has been compiled by Stephen Biggins who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute's codes and recommended practices. He has a minimum of 5 years experience in the types of activities being reported.
Please visit our website at www.southerngold.com.au