Due to the regulatory limitations placed on D'Aguilar's ability to summarise these results, shareholders are encouraged to read the full Solomon Gold announcement. The announcement can be viewed in full under the "Latest News" section of the Solomon Gold website: http://www.solomongold.com
D'Aguilar Gold Limited holds 35.2 million shares in Solomon Gold, which equates to 15.6% of the issued capital. On the basis of last night's closing price, D'Aguilar's investment stake in Solomon Gold is now worth approximately A$30 million.
This current investment stake in Solomon Gold, when added to D'Aguilar's other investment stakes in Mt Isa Metals (ASX:MET) (worth approximately A$14 million at yesterday's closing price for MET), AusNiCo (ASX:ANW) (due to list on 21 October 2010, worth approximately A$11 million at the IPO price of A$0.20) values D'Aguilar's current, listed resource company investments at approximately A$55 million.
In addition, D'Aguilar's emerging listed resource company investments include 8.6 million shares in TSX.V-listed Coltstar Ventures (CVE:CTR) (involved in the scrip-based take-over of Ridge Exploration Pty Ltd), 10 million shares in Navaho Gold (Carlin-style gold in Queensland and Nevada, USA), and 100% ownership of Barlyne / Anduramba (refer to DGR's ASX announcement of 17 September 2010). All of these assets are expected to be in listed form within the next few months.
About DGR Global Limited
DGR Global (formerly D’Aguilar Gold Limited) (ASX:DGR) is focused on generating exploration and development companies in a wide array of minerals.
Projects are conceived directly through the skills and experience of D’Aguilar’s accomplished team of exploration geoscientists (with an enviable track record), not by the costly purchase of properties. Each project or exploration strategy is held in a separate subsidiary.
Focused and specialist management is then engaged in the subsidiary, with project specific finance raised in the subsidiary – faster and less dilutive to D’Aguilar. As the subsidiary project develops and starts to derisk the subsidiary is separately capitalised (seed raisings followed by an IPO).
Investors can choose to invest specifically in a particular project/commodity, or by investing in D’Aguilar, invest in the resource company generating business which retains a significant carried interest in each project.
D’Aguilar projects tend to be very large, targeting new provinces with the potential to make world-class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub-economic deposits into viable projects, D’Aguilar subsidiary projects frequently emerge from detailed reassessment and reinterpretation of large databases – looking at things from a new angle and with a different focus using state of the art techniques. The D’Aguilar Directors and Managers have in the past applied new exploration models to extensive tenement areas which have led to identification of new mineral provinces and the discovery of nationally significant resources. Similar efforts are now being dedicated to D’Aguilar.
Solomon Gold Plc
Mt Isa Metals Limited
DGR Global Limited
Coltstar Ventures Inc.
Aus Tin Mining Ltd