FALKLANDS GOLD: AN OFFER FOR SUBSCRIPTION
By J. Brock (FINN)
If you ever wanted to invest in gold and other minerals in the Falklands, then now is your chance. Falkland Islands Holdings Plc (FIH) has a 21.9% interest in Falkland Gold and Minerals Limited (FGML), which made the following announcement today.
“Falkland Gold and Minerals Limited (FGML) an exploration company, announces that it intends to implement a placing and offer for subscription to raise up to £8Million and apply for admission of its shares to trading on the Alternative Investment Market (AIM)”
Incorporated in February 2004, FGML has begun an exploration programme for gold and other minerals in the Falkland Islands. The Company holds the only licence to explore for gold and minerals in the Falkland Islands. These exclusive rights allow FICL exclusive access and exploration rights to substantially all of the onshore land mass of the Falkland Islands. That’s 12,000km(2).
The licence is currently valid until January 2007 but is guaranteed an extension to July 2009 on admission to the AIM. Money raised will be used to undertake further stages of FGML’s exploration programme. FGML further announces that:
“FGML has recently extended its board and announces the appointments of Richard Linnell as Executive Chairman, Mark Fresson as Executive Finance Director and Dr. Robert Weinberg as non-executive Director”.
Commenting on the flotation and new appointments, David Hudd, Non-executive Deputy Chairman of FGML said:
“We look forward to the start of our drilling programme, which we intend to fund through the proceeds of the placing and public offer. Our new directors bring additional experience to FGML, and we all look forward to the next stage of the Company’s development.”
