D'Aguilar Gold Limited (ASX:DGR) Quarterly Report For The Period Ending 30 September 2009
A share placement in the parent company D'Aguilar Gold Limited raised A$1.54M, and ensures the company can continue to fund its corporate plans into the future.
The company has agreed to merge its 80% owned nickel/cobalt subsidiary AusNiCo Limited with the Canadian listed Lions Gate Metals Inc., and also proposes to effect a listing of its shares in 79% owned gold subsidiary Central Minerals Pty Ltd on a recognised stock exchange.
During the quarter the company conducted a further mapping and sampling program at the Bathurst gold/copper project. Assay results from over 350 samples are pending.
Planning has recommenced for diamond drilling at Peenam, and at the Oaky Creek prospect (Gayndah Project).
D'Aguilar's strategy of seeking listing of its key assets on recognised stock exchanges is designed to deliver:
1. Negotiability for its key assets;
2. Less dilutive funding of forward exploration programs; and
3. Skilled, experienced, highly qualified and focussed project management teams independent of D'Aguilar.
D'Aguilar's aim is to hold its key equity positions in the listed companies. Currently D'Aguilar holds 4.2% of AIM listed Solomon Gold plc (AIM:SOLG) and a substantial position (48%) in the ASX listed Mt Isa Metals Ltd (ASX:MET), with a current focus on gold and base metals exploration in the Mt Isa-Cloncurry area of northern Queensland. D'Aguilar will work to complete the Lions Gate - AusNiCo merger and effect a listing of the capital of Central Minerals Pty Ltd, Navaho Mining Pty Ltd, Anduramba Molybdenum Pty Ltd and Ridge Exploration Pty Ltd as soon as possible.
The Board looks forward to updating shareholders on these developments in due course.
For the complete D'Aguilar Gold Quarterly Report for the period ending 30 September 2009, please click the link below:
About DGR Global Limited
DGR Global (formerly D’Aguilar Gold Limited) (ASX:DGR) is focused on generating exploration and development companies in a wide array of minerals.
Projects are conceived directly through the skills and experience of D’Aguilar’s accomplished team of exploration geoscientists (with an enviable track record), not by the costly purchase of properties. Each project or exploration strategy is held in a separate subsidiary.
Focused and specialist management is then engaged in the subsidiary, with project specific finance raised in the subsidiary – faster and less dilutive to D’Aguilar. As the subsidiary project develops and starts to derisk the subsidiary is separately capitalised (seed raisings followed by an IPO).
Investors can choose to invest specifically in a particular project/commodity, or by investing in D’Aguilar, invest in the resource company generating business which retains a significant carried interest in each project.
D’Aguilar projects tend to be very large, targeting new provinces with the potential to make world-class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub-economic deposits into viable projects, D’Aguilar subsidiary projects frequently emerge from detailed reassessment and reinterpretation of large databases – looking at things from a new angle and with a different focus using state of the art techniques. The D’Aguilar Directors and Managers have in the past applied new exploration models to extensive tenement areas which have led to identification of new mineral provinces and the discovery of nationally significant resources. Similar efforts are now being dedicated to D’Aguilar.
Solomon Gold Plc
Mt Isa Metals Limited
Lions Gate Metals Inc.
DGR Global Limited