AGC - Australian Gold and Copper says $10.1 million investment a big vote of confidence
(NewsDirect)
Australian Gold andCopper Ltd (ASX:AGC) MD Glen Diemar speaks with Proactive followingnews of the company’s $10.1 million investment from Hong Kong-basedDelin Mining Group Cooperation Ltd. The share placement will result inDelin holding a 55% interest in AGC once completed. The transaction,which requires shareholder approval, will give AGC the funds tocontinue its search for gold and copper in the Cobar Basin of NewSouth Wales, which is host to the high-grade CSA copper mine. A maidendrill program to test the high-priority Hilltop Target has beenapproved to commence as soon as the placement is completed.
“In the currentclimate where the cost of capital is high, this investment representsexceptional value for all our shareholders,” AGC chairman DavidRichardson said.
“The significant premium to market price is clear evidence ofthe attractiveness of the drill-ready targets in our South CobarProject.
“Welook forward to this transformational strategic investment and welcomeDelin as a new major shareholder.”
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JonathanJackson
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