Friday, 4 October 2013

Minera shares rise as offer talks revealed

Minera IRL (LON:MIRL, TSE:IRL) confirmed on Friday that it was in talks with LionGold Corp over a possible offer for the firm.
Shares saw a rally on London's AIM market and rose over 18% to stand at 17 pence each.
In addition, LionGold (LGC) and Minera are in discussions regarding a potential placing, under which LGC would agree to subscribe for up to US$10 million of Minera shares in two tranches.
The announcement came with the caveat that there was no certainty that any offer would indeed be made.
LionGold Corp is listed in Southeast Asia and its corporate profile decribes it as the largest gold company listed there.
It has established itself in the global gold mining industry and has acquired since 2012, seven gold exploration and mining companies.
Last week, Minera announced it had received the key approval for the development of its Ollachea gold project in Peru.
The company revealed that the Peruvian Ministry of Mines and Energy (MEM) had approved the Environmental and Social Impact Assessment (ESIA) for the project.
Courtney Chamberlain, chief executive of Minera, said the ESIA report was a “major milestone toward production”. 

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