We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Leyshon Res | LSE:LRL | London | Ordinary Share | AU000000LRL1 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.425 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLRL
RNS Number : 0645M
Leyshon Resources Limited
11 July 2014
LEYSHON RESOURCES LIMITED
11 July 2014
Anticipated Suspension from ASX Quotation
As previously disclosed, following the successful demerger of Leyshon Energy Limited in January 2014, Leyshon Resources Limited (AIM/ASX: LRL) ("Leyshon Resources" or the "Company") has been actively pursuing and studying potential investment opportunities in the resources sector which are in line with the Company's stated investing policy. The Company's strategic objective is to identify projects for merger or acquisition that have a clear pathway to production or monetization and can generate high returns to shareholders.
Australian Securities Exchange ("ASX") policy is to allow companies that have disposed of their main undertakings a six-month period within which to satisfy ASX that the company has a sufficient level of operations to justify continued quotation of the company's securities on the ASX. With funds available for investment and the volume of opportunities being presented to Leyshon Resources for consideration, the Board had expected to be in a position to implement a programme to create value from its existing Mt Leyshon assets or a suitable project acquisition in time to satisfy the ASX's continued operations policy.
Since the demerger and subsequent appointment of a new Managing Director in February 2014, the Company has been actively reviewing a number of project opportunities, including appropriate due diligence enquiries, and entered into negotiations with several parties. Whilst the Company is currently evaluating a number of opportunities, there can be no certainty that a transaction will be concluded.
The Company has also been actively pursuing opportunities to utilise its existing Mt Leyshon assets in northern Queensland. The Mt Leyshon Project comprises five Mining Licences with a total area of 2,546 hectares, 24 kilometres south of Charters Towers. The Mt Leyshon Gold Project was a large-scale, open-cut mine operated from 1987 to 2002, producing over 2.5 million ounces of gold and 2.3 million ounces of silver during its mine life. The Company has compiled all its historical exploration and drilling data and forwarded it to an external party to reassess the exploration potential of the Mining Licences. The Company has also forwarded historical information and previous economic studies in relation to reprocessing of its mill scat stockpiles to an external consultant familiar with the project for review and preparation of a revised proposal. These opportunities are not yet at a sufficient stage to satisfy ASX requirements for continued quotation under Chapter 12 of the Listing Rules.
Accordingly, the Board advises that trading in the shares of the Company will be suspended by the ASX from 14 July 2014. Leyshon Resources will remain an ASX listed entity and provided it is able to recommence operations of a level that, in the opinion of the ASX, is sufficient to justify quotation of Leyshon Resource's securities in the future, the suspension of trading in the Company's shares will be lifted.
Leyshon Resources Managing Director Corey Nolan said: "With its available cash reserves, Leyshon Resources is well positioned to pursue quality projects in accordance with our investment strategy. Every effort will be made to ensure we secure assets that are most likely to achieve the corporate objectives and strategic aims of the Company."
In the interim, the Company will continue to evaluate suitable investment opportunities and will keep the market informed of any material developments as they occur.
The Company confirms that its securities continue to trade on the AIM Market and the Company remains subject to Rule 15 of the AIM Rules for Companies ("AIM Rules") whereby the Company will have to make an acquisition(s) which constitute a reverse takeover under AIM Rule 14 or otherwise implement its investing policy to the satisfaction of the London Stock Exchange within twelve months of the demerger of Leyshon Energy.
For further information please contact:
Leyshon Resources Limited
Corey Nolan - Managing Director
Tel: +61 7 3221 7770
admin@leyshonresources.com
RFC Ambrian Limited
Samantha Harrison (Nominated Adviser)
Kim Eckhof (Corporate broking)
Tel: +44 (0)203 440 6800
http://www.leyshonresources.com
Leyshon Resources Limited ABN 75 010 482 274
Level 3 / Suite 3, 1292 Hay Street, West Perth 6005, Western Australia
Tel: + 61 8 9321 0077 Fax: + 61 8 9322 4073
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGURAMUPCUAG
1 Year Leyshon Resources Chart |
1 Month Leyshon Resources Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions