LionGold Corp is Singapore's only Main Board-listed gold company. The Group has rapidly established itself in the global gold mining industry. Since March 2012, controlling interest in five gold exploration and mining companies has been acquired, two of which are in production. Primary concessions are in Australia, Ghana and Bolivia and collectively hold 5.5 million ounces of gold resources, of which nearly 900,000 ounces are classified as reserves. Future expansion will be achieved through further acquisitions and organic growth.
The Group aims to become a global gold producer and is initially targeting minimum gold resources of 10 million ounces, reserves of 2 million ounces and annual production of 200,000 ounces by 2014. Acquisition prospects will have scalable resources with scope for rapid enhancement. Targets include mining companies and projects in an advanced stage of development or a nascent stage of production across a range of geographies. The intention behind this selective approach is to unlock asset value while building out the gold business.
UML Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
