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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Brinkley Mining | LSE:BRM | London | Ordinary Share | GB00B15SQZ22 | ORD 0.15P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.60 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBRM RNS Number : 6015D Brinkley Mining PLC 04 December 2009 For Immediate Release 4 December 2009 Brinkley Mining PLC "Brinkley Mining" or the "Company") Minority investment in Dragon Mining Limited The Board of Brinkley Mining is pleased to announce today that it has purchased an investment of 8.13 per cent. in Dragon Mining Limited ("Dragon") for a cash consideration of A$5.4 million, equivalent to approximately GBP3 million at current exchange rates. The investment has been financed from Brinkley Mining's cash balances. Dragon Mining is listed on the Australian Stock Exchange (ASX Code: DRA) with a market value of approximately A$66 million and operates the Svartliden Gold Mine in Sweden and the Orivesi and Jokisivu Gold Mines in Finland, which collectively produced 74,206 ounces of gold in 2008. As reported in Dragon's audited report and accounts for the year ended 31 December 2008, Dragon had a group total JORC compliant reserve and resource as at that date as follows: +----------------------------+-----------+-------------+------------+ | Classification | Tonnes | Gold (g/t) | Gold | | | | | (ounces) | +----------------------------+-----------+-------------+------------+ | Measured | 453,700 | 3.9 | 56,900 | +----------------------------+-----------+-------------+------------+ | Indicated | 3,411,700 | 5.1 | 555,960 | +----------------------------+-----------+-------------+------------+ | Inferred | 3,246 | 5.2 | 542,800 | +----------------------------+-----------+-------------+------------+ | Total | 7,111,700 | 5.1 | 1,155,660 | +----------------------------+-----------+-------------+------------+ Notes: 1. Source: Dragon Mining Limited 2008 audited Report and Accounts. These reserves and resources have not been independently verified by Brinkley Mining. 2. Total above includes Dragon's 20% interest in Zara. In the nine months ended 30 September 2009, Dragon announced that it had produced to date 49,097 ounces of gold. In the year ended 31 December 2008, Dragon made a profit before taxation of A$8.167 million on a turnover of A$69.98 million. As at 31 December 2009 Dragon's net assets amounted to A$44.163 million. For the six months ended 30 June 2009, Dragon announced that it had made a loss before taxation of A$7.532 million (after a foreign exchange loss of A$16.293) on a turnover of A$40.904 million. Net assets as at 30 June 2009 amounted to A$43.618 million. Further information on Dragon is available at its website, www.dragon-mining.com.au. Eurogold Limited, which owns 29.04 per cent. of Brinkley Mining is also interested in 0.9 per cent. of Dragon andPeter Gunzburg, a Director of both Brinkley and Eurogold has an interest, through other related entities, in 0.1 pr cent. of Dragon. For further information please contact: Brinkley Mining Plc Peter GunzburgTel: +618 94810572 Beaumont Cornish Limited Michael CornishTel: +44 (0) 20 7628 3396 ENDS This information is provided by RNS The company news service from the London Stock Exchange END MSCFSFFSLSUSELE
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