DGAP-News: Deutsche Rohstoff AG:
(firmenpresse) - DGAP-News: Deutsche Rohstoff AG / Key word(s): Disposal
Deutsche Rohstoff AG:
17.09.2012 / 11:41
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Deutsche Rohstoff AG: Sale agreement for Georgetown Gold Mine signed
Sales price AUD 16 million (EUR 13 million) in cash
Heidelberg/Brisbane. Deutsche Rohstoff AG sold its Georgetown Gold Mine,
located in North-Queensland, Australia, for AUD 16 million (EUR 13 million)
in cash. The buyer is JKO Mining pty Ltd, a company based in Hamilton
Brisbane, Queensland, Australia. The purchase was effected through the
acquisition of the shares of Deutsche Rohstoff Australia Pty Ltd (DRAU) who
owns the Georgetown Gold Project. Completion of the transaction is subject
to approval by the Australian 'Foreign Investment Review Board (FIRB)'. The
approval is expected to be granted within the next few days.
AUD 0.5 million (EUR 0.4 million) of the purchase price has already been
paid in June and August in the form of an exclusivity premium. Another AUD
9.5 million (EUR 7.7 million) is immediately payable, the rest of AUD 6
million will be paid in four instalments over the next 12 months. That
vendor loan bears interest at 7% and is secured by a mortgage over the
tenements held by DRAU.
Titus Gebel, CEO of Deutsche Rohstoff AG, said: 'We are very pleased that
the sale of Georgetown Gold Mine is now signed. We wish the purchaser every
success for the future. The area around Georgetown undoubtedly still has
considerable potential for gold production. '
DRAU, as a previously 100% owned subsidiary of Deutsche Rohstoff AG, is the
legal entity which holds the mining and exploration licenses, which are
important for the Georgetown Gold Mine. The gold processing plant in
Georgetown, Queensland, also belongs to the company. DRAU acquired the
Georgetown Gold Project in 2009 and commenced the mining of gold bearing
ores in late 2010. In the course of 2011, the company produced in excess of
13,000 ounces of gold and 9,000 ounces of silver. The purchaser is obliged
to rename the company after the acquisition.
Heidelberg, 17 September 2012
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on gold, oil&gas and so called
high tech metals such as tin, tungsten, and rare earth metals. All projects
are located in countries marked by political stability, the core area being
Germany. The business concept is based on redeveloping deposits, which have
been well explored in the past. For more information please visit
www.rohstoff.de.
Contact:
Thomas Gutschlag
+49 6221 871 000
gutschlag(at)rohstoff.de
End of Corporate News
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17.09.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 HeidelbergGermany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag(at)rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76
WKN: A0XYG7
Indices: Entry Standard (Performance TOP 30)
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of News DGAP News-Service
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185389 17.09.2012
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Unternehmensinformation / Kurzprofil:
Datum: 17.09.2012 - 11:41 Uhr
Sprache: Deutsch
News-ID 183736
Anzahl Zeichen: 3964
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Kategorie:
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