DJ Leyshon Resources Continues To Review Investment Opportunities
Leyshon Resources Ltd. (LRL.AU), an Australian gold mining company, said Tuesday that during the September quarter it continued to review, and is continuing to undertake due diligence, on a number of project investment opportunities, some of which have the potential to meet the Company's investment criteria.
MAIN FACTS:
-Company remains alive to possibilities both internationally and within China; It is currently focusing on thermal and coking coal and gold opportunities in North Western China and Southern Mongolia.
-Company is in active discussions with a potential vendor of an interest in a large thermal coal project located in eastern Xinjiang; Due diligence is well advanced and the results suggest that the project has the potential to meet the Company's investment criteria.
-Further discussions are expected during the current quarter.
-Company is also actively reviewing epithermal gold and copper targets in the major metallogenic Tien Shan belt in northern Xinjiang.
- Company is currently undertaking a detailed due diligence exploration program on a gold project located in a historic mining district in north west Xinjiang; Program has comprised extensive trenching and sampling over several kilometers, testing the surface expression of a potentially deep seated orogenic gold resources.
-Further detailed testwork and commercial negotiations are expected during the current quarter.
-Company continues to generate investment proposals from many locations around the world and it actively considers each one in light of its competitive advantage of being located in Beijing and able to access the Chinese end user market.
-Company remains diligent in its assessment of assets at all times and is therefore prepared to commit significant expenditure on due diligence and other studies before committing to a transaction.
-At quarter end, the Company had A$46.6 million in cash, and is due A$1.4 million in term deposit interest for a total of A$48.0 million; This is an increase on the funds held immediately following settlement on the sale of the Zheng Gung gold project in December 2009 and is equivalent to 22.2 cents per share and 13.7 pence per share.
-Shares in London at 0820 GMT unchanged at 15.25 pence valuing the company at GBP32.95 million.
-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com
(END) Dow Jones Newswires
MAIN FACTS:
-Company remains alive to possibilities both internationally and within China; It is currently focusing on thermal and coking coal and gold opportunities in North Western China and Southern Mongolia.
-Company is in active discussions with a potential vendor of an interest in a large thermal coal project located in eastern Xinjiang; Due diligence is well advanced and the results suggest that the project has the potential to meet the Company's investment criteria.
-Further discussions are expected during the current quarter.
-Company is also actively reviewing epithermal gold and copper targets in the major metallogenic Tien Shan belt in northern Xinjiang.
- Company is currently undertaking a detailed due diligence exploration program on a gold project located in a historic mining district in north west Xinjiang; Program has comprised extensive trenching and sampling over several kilometers, testing the surface expression of a potentially deep seated orogenic gold resources.
-Further detailed testwork and commercial negotiations are expected during the current quarter.
-Company continues to generate investment proposals from many locations around the world and it actively considers each one in light of its competitive advantage of being located in Beijing and able to access the Chinese end user market.
-Company remains diligent in its assessment of assets at all times and is therefore prepared to commit significant expenditure on due diligence and other studies before committing to a transaction.
-At quarter end, the Company had A$46.6 million in cash, and is due A$1.4 million in term deposit interest for a total of A$48.0 million; This is an increase on the funds held immediately following settlement on the sale of the Zheng Gung gold project in December 2009 and is equivalent to 22.2 cents per share and 13.7 pence per share.
-Shares in London at 0820 GMT unchanged at 15.25 pence valuing the company at GBP32.95 million.
-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com
(END) Dow Jones Newswires
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