The Signature Offer • As part of our acquisitive growth strategy, LGC, made an unconditional, all share, General Offer for Signature Metals Limited (“SML”) on 19 Dec 2011, for a consideration of c.S$70 million, (54% premium to its market capitalisation) • SML is an ASX listed company primarily focused on gold exploration and mining in Ghana, West Africa • SML has Indicated & Inferred JORC Resources of 1.47 million ounces of gold • LGC perceived SBL was undercapitalised, underperforming and in some ways distressed – not able to achieve growth expectations without further capital injection.
SBL Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
