Sydney, Dec 23, 2010 (ABN Newswire) - Kingsgate Consolidated Limited (ASX:KCN) (PINK:KSKGF) (Kingsgate) announces it has received confirmation from the Foreign Investment Review Board (FIRB) that it has no objections in terms of the Government's foreign investment policy to the proposed schemes of arrangement with Dominion Mining Limited (ASX:DOM) (PINK:DMNOY) (Dominion), announced to the Australian Securities Exchange on 20 October 2010.
The FIRB approval comes after a process which has included review by the Department of Defence, given that Dominion's main asset, the Challenger Gold Mine, is located within the Woomera Prohibited Area.
Commenting on the confirmation, Kingsgate's Chairman, Ross Smyth-Kirk said, "The FIRB approval was a key milestone in implementing Kingsgate's proposed combination with Dominion. Execution of the transaction remains on schedule, and we look forward to Dominion shareholders being given the opportunity to vote on the combination on 2 February 2011".
Kingsgate Consolidated Limited (ASX:KCN) is a low cost gold producer and a highly successful gold mining and exploration company, traded on the Australian Stock Exchange. The company owns and operates the Chatree gold mine in central Thailand through its Thai subsidiary, Akara Mining Limited, using world's best practice for safe, environmental and socially responsible operations.
A growing reserve/resource position within granted mining leases lies in a gold province which exhibits world class potential, with recent near mine gold discoveries.
Contact
Gavin Thomas Managing Director & CEO Kingsgate Consolidated Limited Tel: +61-2-8256-4800 Fax: +61-2-8256-4810 Email: info@kingsgate.com.au http://www.kingsgate.com.au
ASX:KCN) (
Dominion Mining Limited
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