Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
WEST PERTH, WESTERN AUSTRALIA–(Marketwire – Oct. 17, 2011) – Gold miner, Lachlan Star Limited (“Lachlan” or the “Company”) (ASX:LSA), is pleased to announce that it been approved to list on the Toronto Stock Exchange (TSX), with the stock code “LSA”. Trading of Lachlan’s shares on the TSX is expected to commence on Wednesday, October 19th, 2011.
Pursuant to the previously announced private placement of Special Warrants (the “Special Warrants Placement”) that closed in August, 2011, the Company is required to use its best efforts to file a preliminary prospectus in each province of Canada in which Special Warrants were distributed, being Ontario and British Columbia, pursuant to the Special Warrants Placement and obtain a receipt for a final prospectus on or before December 27, 2011 which, if obtained, will result in the underlying shares, including shares issuable upon exercise of the underlying warrants, to be free trading.
Mick McMullen, Executive Chairman, commented on the TSX listing: “The TSX listing is a milestone event for the Company. The TSX is the preferred listing destination for most of our peer group of Latin American precious metal miners, and the TSX listing will enable North American institutional investors to invest in Lachlan in their own time zone. We believe that this represents another important step in building the Company into a recognised unhedged gold producer with a strong balance sheet and growth profile.”
For, and on behalf of the Board
Mick McMullen, Chairman
About Lachlan Star Limited
Lachlan Star Limited is an emerging minerals exploration and development company headquartered in Perth, Western Australia. The Company is focused on acquiring and developing assets within the gold and copper sectors within Australia and Chile. The company has a board of directors and management team with an impressive track record of advancing resource projects through to production.
Lachlan Star’s current projects include a 100% interest in the CMD Gold Mine in Chile, the Bushranger copper and gold project in New South Wales (Newmont earning up to 51%) and the Princhester magnesite deposit in Queensland.
Comments
small business web design
I’m happy when reading through your site with up-to-date information! thanks alot and hope that you’ll publish more site that are based on this website.