News and Announcements
Gold Anomaly Limited (ASX:GOA) and Liongold (SGX:A78) Sign MOA to Develop PNG Assets
- Published August 23, 2012 1:16AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Sydney, Aug 20, 2012 (ABN Newswire) – Gold Anomaly Limited ( ASX:GOA) today announced details of a proposed agreement that would fast track development of its assets in Papua New Guinea (“PNG”) and deliver first production within 15 months.
The company has entered into a Memorandum of Agreement (“MOA”) with Singapore Exchange-listed gold investment and development company LionGold Corporation Ltd (SGX:A78) (“LionGold”) which provides, subject to conclusion of a final binding legal agreement to be negotiated between the parties, for LionGold to acquire up to 60% of GOA’s PNG subsidiary company Anomaly Limited (“AL”) which owns GOA’s PNG assets. These assets includes Crater Mountain, which is shaping up as a major gold and copper deposit, as well as the Fergusson Island gold deposits, with total current gold resources in excess of 1 million ounces.
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