AGC welcomes new major shareholder
PERTH (miningweekly.com) – Junior Australian Gold and Copper (AGC) has unveiled a major new shareholder in Hong Kong-based Delin Mining Group Corporation.
AGC on Thursday revealed a A$10.1-million investment from Delin, with the company subscribing for more than 122.2-million new shares at a price of 8.2c each.
The subscription agreement would give Delin a 55% interest in the issued share capital of AGC, subject to due diligence, and shareholder and regulatory approvals.
“In the current climate where the cost of capital is high, this investment represents exceptional value for all our shareholders. The significant premium to market price is clear evidence of the attractiveness of the drill-ready targets in our South Cobar project. We look forward to this transformational strategic investment and welcome Delin as a new major shareholder,” said AGC chairperson David Richardson.
AGC is currently searching for gold/copper deposits in the Cobar basin, which is host to the high-grade CSA copper mine. AGC’s board has approved a maiden drill programme to test the high-priority Hilltop target. This programme is now planned to commence on completion of the strategic investment.
On completion of the investment, Delin chairperson Zhang Yong will be appointed as co-chairperson of the AGC board. The new shareholder will also be able to nominate for appointment 50% of the board of directors of AGC.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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