notice in the ann where they say the likely funding is coming from for this purchase from newcrest.
bye bye AGM shares.
cheers
Pre�]emptive Right and Timing
Newcrest is conducting a sale process for its 70% holding of the Cracow Gold Mine in
Queensland. Lion holds the other 30% and a pre�]emptive right which enables it to match any
accepted offer made for Newcrest�fs Cracow interest.
Lion is seeking to exercise its pre�]emptive right and anticipates the start of the pre�]emptive
process will commence in March provided Newcrest receives an acceptable offer. Lion will
then have sufficient time to exercise its pre�]emptive right. This considerable period is available
to Lion and could be viewed as a valuable gold price option in the current volatile gold market.
Cracow Financing
Lion has several alternatives to financing a potential purchase of 70% of Cracow:
I
Existing cash (approximately $70M)
Sale of Investments (e.g. Allegiance) Likely
Debt Possible
3rd party finance Possible
New Lion Equity NO
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