D'Aguilar Gold Limited (ASX:DGR) Quarterly Report For The Period Ending 30 September 2009
Brisbane, Oct 28, 2009 AEST (ABN Newswire) - During the quarter field exploration activities have been concentrated on soil sampling and geological mapping on Central Minerals and D'Aguilar Gold Limited (ASX:DGR) wholly owned projects at Bathurst.
A share placement in the parent company D'Aguilar Gold Limited raised A$1.54M, and ensures the company can continue to fund its corporate plans into the future.
The company has agreed to merge its 80% owned nickel/cobalt subsidiary AusNiCo Limited with the Canadian listed Lions Gate Metals Inc., and also proposes to effect a listing of its shares in 79% owned gold subsidiary Central Minerals Pty Ltd on a recognised stock exchange.
During the quarter the company conducted a further mapping and sampling program at the Bathurst gold/copper project. Assay results from over 350 samples are pending.
Planning has recommenced for diamond drilling at Peenam, and at the Oaky Creek prospect (Gayndah Project).
D'Aguilar's strategy of seeking listing of its key assets on recognised stock exchanges is designed to deliver:
1. Negotiability for its key assets;
2. Less dilutive funding of forward exploration programs; and
3. Skilled, experienced, highly qualified and focussed project management teams independent of D'Aguilar.
D'Aguilar's aim is to hold its key equity positions in the listed companies. Currently D'Aguilar holds 4.2% of AIM listed Solomon Gold plc (AIM:SOLG) and a substantial position (48%) in the ASX listed Mt Isa Metals Ltd (ASX:MET), with a current focus on gold and base metals exploration in the Mt Isa-Cloncurry area of northern Queensland. D'Aguilar will work to complete the Lions Gate - AusNiCo merger and effect a listing of the capital of Central Minerals Pty Ltd, Navaho Mining Pty Ltd, Anduramba Molybdenum Pty Ltd and Ridge Exploration Pty Ltd as soon as possible.
The Board looks forward to updating shareholders on these developments in due course.
For the complete D'Aguilar Gold Quarterly Report for the period ending 30 September 2009, please click the link below: