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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bullion Res | LSE:BLO | London | Ordinary Share | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5661E Bullion Resources PLC 02 December 2002 For immediate release 2 December 2002 Bullion Resources plc ("Bullion Resources" or "The Company") The Company wishes to clarify its position as regards an article published on 20 November 2002 on the Mineweb website (www.miningweb.co.za) which, inter alia, alleges that shareholders had been provided with misleading information contained within the Competent Persons Report ("CPR"), which was published in the Company's prospectus dated 5 June 2002 and that a complaint has been lodged with the Geological Society of South Africa ("GSSA"). The Company is unaware of the basis for the complaint and is therefore unable to comment on it. The Company has contacted Dr Deon Vermaakt, an accredited South African Mineral Resource Committee ("SAMREC") geologist, who was responsible for the CPR. Dr Vermaakt confirms he has not been notified by the GSSA, SAMREC or the South African Council for Natural Scientific Professions ("SACNASP") that any complaint has been lodged. Furthermore, he reconfirms the contents of his report and intends to defend its contents should such alleged complaint be formally brought to his attention. The article also states that "Drylands and Machavie have been in several hands before, but have never been developed". This is inaccurate. Drylands was mined and produced gold as recently as 1992 under Anglogold and Sterling Rand produced gold in the mid-1980's at New Machavie. On 30 October 2002, Bullion Resources made an announcement containing the following statement: "The Directors of Bullion Resources are pleased to announce that Drylands, the most advanced of the Company's projects is expected to produce its first gold in December 2002. This event was delayed by a design fault leading to a misalignment of the mill. Commissioning of the plant will commence next week and will be completed in November 2002. Because of the low cost of the Drylands operations and plant, the free availability of resources and in order to negate the delayed start up of the mill, the Board has decided to install a second mill at this site. The mill is one of the five spare mills that were recently acquired. The foundation excavations will commence next week and the installation of the mill should be complete by the end of December 2002. Commissioning is expected to commence by early January 2003 and completion before the end of that month. Full production at Drylands is expected to be achieved by June 2003." The Directors confirm that this statement remains valid. For further information contact: Johnny van den Berg - Director - +27 72 424 0667 Justine Howarth - Parkgreen Communications - 020 7287 5544 This information is provided by RNS The company news service from the London Stock Exchange END MSCFSLFWESESESE
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