LHKX Capital reaches agreement with a Gold mining company
(firmenpresse) - LHKX Capital reaches agreement with a Gold mining company
London, May 28th, 2010, London Hong Kong Exchange Plc (“LHKX”) is pleased to announce that its wholly owned group business LHKX Capital has been involved in extensive negotiations with a company that has extensive mining resources and has come to an agreement to make a direct pre-IPO investment into the Gold mining project and arrange for an accelerated listing on a European stock exchange via a reverse takeover in combination with a €20 million fund raising via private placement. The fund raising proceeds will be used to finance the expansion of the Gold mining project activities and to maximise Gold production.
In this process, it is LHKX Capital’s objective to retain a 20% shareholding in the listed Gold mining company after the capital raising is completed.
Initial geological reports estimate a minimum reserve of 6.4 Million ounces of Gold, with strong indications that the reserves will be considerably higher when the current survey is completed within the next 3 months.
The mine is open pit which significantly reduces the extraction costs. The mine has existing staff and expertise.
The current market price for Gold is in the region US$ 1,212 per ounce. The Gold mining business overheads and extraction costs total to approx US$ 400 per ounce, giving a net earning of US$ 812 per ounce.
The current value of the mine is calculated at 45 USD per ounce which results in an evaluation of 288 Million USD. This calculation is used for the fund raising and acquisition of new mining equipment to maximize its production / value.
LHKX Capital is subject to a short term confidentiality agreement regarding this transaction. It is expected that LHKX Capital will be able to disclose further information and details regarding the transaction within a period of approx. 14 days.
About LHKX Capital:
LHKX Capital is a wholly owned group business of London Hong Kong Exchange Plc (“LHKX”) which is a UK domiciled holding company for a group of companies active in provision of innovative financial services and products mainly targeted at qualified retail class investors and traders.(www.lhkx.com). LHKX Capital has developed significant international deal-flow and Family Office investment networks and aims to participate in growth equity transactions at the pre-IPO and IPO investment stage on a 12 month exit horizon.
For further information please contact
LONDON HONG KONG EXCHANGE PLC
Lynton House
7-12 Tavistock Square
LONDON WC1H 9BQ
United Kingdom
Tel.: +44 20 7 193 3853
Email: contact(at)lhkx.co.uk
Leseranfragen:
LONDON HONG KONG EXCHANGE PLC
Lynton House
7-12 Tavistock Square
LONDON WC1H 9BQ
United Kingdom
Tel.: +44 20 7 193 3853
E-Mail: contact(at)lhkx.co.uk
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Datum: 28.05.2010 - 09:57 Uhr
Sprache: Deutsch
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