Stock Name: LionGold
Company Name: LIONGOLD CORP LTD
SIAS Research in an Apr 16 research report says: "LionGold Corp Ltd (LIGO) announced that (a) it will be subscribing for 11.37% of ASX listed Castlemaine Goldfields Limited (CGT) at a cash consideration of $5.05 million for new CGT shares and that (b) it will be making an off-market share-swap takeover bid for all other issued shares of CGT at a cost of up to $65.2 million. "CGT’s current production rate of 3,000 to >4,500oz per quarter is about 1.6x to >2.5x that of Signature Metals Ltd (Signature), with further plans by CGT to increase output at Ballarat to 50,000oz/year. As such, this acquisition when completed will most likely significantly raise LIGO’s near term output. "We have previously raised our valuation of LIGO to $1.215 following the close of its offer for Signature in an update report dated Mar 29. MAINTAIN INVEST."
Company Name: LIONGOLD CORP LTD
| Research House: SIAS | Price Call: BUY | Target Price: 1.215 |
SIAS Research in an Apr 16 research report says: "LionGold Corp Ltd (LIGO) announced that (a) it will be subscribing for 11.37% of ASX listed Castlemaine Goldfields Limited (CGT) at a cash consideration of $5.05 million for new CGT shares and that (b) it will be making an off-market share-swap takeover bid for all other issued shares of CGT at a cost of up to $65.2 million. "CGT’s current production rate of 3,000 to >4,500oz per quarter is about 1.6x to >2.5x that of Signature Metals Ltd (Signature), with further plans by CGT to increase output at Ballarat to 50,000oz/year. As such, this acquisition when completed will most likely significantly raise LIGO’s near term output. "We have previously raised our valuation of LIGO to $1.215 following the close of its offer for Signature in an update report dated Mar 29. MAINTAIN INVEST."
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