CTO 12.5% 0.5¢ citigold corporation limited

In March 2012, LionGold changed its core business to gold...

  1. 305 Posts.
    In March 2012, LionGold changed its core business to gold exploration, development and production, and since
    that time, we have:
    1 completed the takeover of Signature Metals Ltd (an ASX listed entity) – LionGold has a 76%
    shareholding in Signature, which has interests in mining tenements in the Ashanti Gold Belt of Ghana
    and has Mineral Resources of approximately 1,470,000 ounces of gold (combined Indicated and
    Inferred Mineral Resources, which includes 687,000 ounces in the Indicated Mineral Resources
    category);
    2 announced the Castlemaine Takeover (Castlemaine is an ASX listed entity with tenements in Victoria,
    including the historic Victorian goldfields) and acquired 11.4% of the issued share capital in
    Castlemaine for a total subscription amount of approximately $3,900,000 – the Castlemaine Bidder’s
    Statement was lodged on 13 June 2012 and the offer is currently open;
    3 announced, on 4 June 2012, the Takeover Bid for Brimstone;
    4 announced, on 4 June 2012, a share sale purchase agreement with Republic Gold Limited (an ASX
    listed entity) under which LionGold will, subject to the satisfaction of conditions, acquire the shares in
    Vista Gold Antigua which, through its subsidiaries, owns the Amayapampa Gold Project in Bolivia;
    5 announced, on 28 June 2012, a subscription agreement with Citigold Corporation Limited (an ASX
    listed entity) under which LionGold has agreed to subscribe a total subscription amount of
    approximately A$10,000,000 for approximately 10% of the issued share capital in Citigold; and
    6 raised S$39,000,000 (approximately A$30,822,000) from capital markets in support of LionGold’s push
    into the gold mining business.
 
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