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News - Detailed News Story

LionGold

Stock Chart
Last Done 0.014
Change +0.002 (+16.67%)
Volume 2,571.2
Range 0.013 - 0.014

LionGold: Enters Agreement To Acquire 100% Stake In Amayapampa Gold Project In Bolivia For US$7.0 Million.

04 Jun 2012 10:06

LionGold enters into a Share Sale Agreement with Republic Gold Limited, an ASX listed gold explorer to purchase entire issued and paid-up capital of Republic Gold Limited's wholly owned subsidiary, Vista Gold Corp. Vista Gold Corp, through itself and its subsidiaries, owns, legally and beneficially, the Amayapampa Gold Project in the Municipality of Chayanta, Bustillo Province in Bolivia, consisting of 38 overlapping concessions totaling 3,367 hectares and one concession at Consoliddada III. The total consideration will be US$7.0 million and it will be satisfied by the payment of US$750,000, which will be off-set against an amount equal to the Loan amount due from Republic Gold to LionGold under the Loan Agreement announced on 18th May 2012 and the rest of US$6.25 million to be satisfied by the allotment and issue of LionGold shares at an issue price of S$1.0039...

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