Explorer Lionsgold raises cash for India, Finland projects
JOHANNESBURG (miningweekly.com) – Aim-listed gold explorer Lionsgold said on Thursday it had undertaken a share placing to raise £550 000 before expenses, which would be used to advance its projects in India and Finland.
Lionsgold placed 50-million shares at 1.1p a share, with CEO Cameron Parry, through his family owned trust, having subscribed for three-million shares.
The company issued warrants to subscribe for 25-million new shares at an exercise price of 1.5p a warrant on the basis of one warrant for two placing shares.
Parry commented that the attaching warrants, which were being issued at a 36% premium to the placing price with a relatively short term of six months to exercise, reflected the near-term milestones anticipated at the company’s projects.
Near-term commercial objectives include the completion of the feasibility study at Jonnagiri gold project, in India, and the potential for a mine developer/operator contract to be agreed. The Jonnagiri project could start production towards the end of next year.
The company is also undertaking a bulk sampling campaign in Finland to produce gold in the second quarter of this year and is aiming to turn the Finnish gold joint venture into a self-funded business.
At the physical gold ownership online platform, IndexGold, in which Lionsgold owns a significant shareholding, a digital marketing and product development strategy will be implemented.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation