https://www.engineeringnews.co.za

Southern Cross and Polymetals halt shares on merger talks

5th April 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – The shares of ASX-listed junior Southern Cross Goldfields went into a trading halt on Friday as the company readied to make an announcement regarding a potential merger.

Share trading would be halted until April 8.

Meanwhile, fellow-listed Polymetals Mining had also suspended share trading until April 8, also quoting the reason for the suspension as a potential corporate merger.

Polymetals is an emerging gold developer, which in September last year successfully acquired Lansdowne Resources, and a 75% interest in the Turner River gold project, which has a resource estimated at some 6.8-million tons, grading 1.6 g/t gold for 345 000 oz of contained gold.

The company also holds equity in the White Dam joint venture, in South Australia, and the Mount Boppy gold development, in New South Wales.

Southern Cross Goldfields, in turn, is targeting its first gold production from the Marda project, in 2013, with initial production forecast at some 30 000 oz/y from a Joint Ore Reserves Committee-compliant resource of 600 000 oz of gold.

The company also holds tenement packages covering some 4 000 km2.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 
Craig Miller Technical Services (CMTS)
Craig Miller Technical Services (CMTS)

CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.053 0.97s - 140pq - 2rq
Subscribe Now