LION Lionsgold

TIDMKGLD

Kolar Gold Limited

15 February 2017

Kolar Gold Limited

("Kolar Gold" or the "Company")

Indian Exploration Assets Independent Review Initiated

Kolar Gold Limited (LON: KGLD), the AIM-quoted India-Finland gold explorer and trading exchange provider, is pleased to announce the engagement of Golder Associates Pty Ltd to undertake a review and independent valuation of certain assets (the "Review") held by Geomysore Services India Private Limited ("Geomysore") in which Kolar Gold holds a 20.5% interest.

The Review is being undertaken to allow the Company to properly appraise the value of its investment in Geomysore whilst providing valuable information on Geomysore's wider portfolio of gold and non-gold assets. The Company expects the final report from the Review to be available around the end of March at which point the Company will report on its findings.

Kolar Gold CEO, Cameron Parry, commented: "Kolar Gold has initiated an independent technical review and valuation on each of Geomysore's individual Indian exploration assets, to be carried out over the next two months, and we look forward to reporting on those findings once completed."

For further information, please visit www.kolar-gold.com or contact:

 
Kolar Gold Limited                        Tel: +44 (0) 207 397 2880 
 Cameron Parry (Chief Executive Officer) 
 Luke Cairns (Executive Director) 
WH Ireland Limited (Nominated Adviser)    Tel: +44 (0) 113 394 6600 
 Tim Feather 
 Ed Allsopp 
Vicarage Capital Limited (Broker)         Tel: +44 (0) 203 651 2911 
 Rupert Williams 
 Jeremy Woodgate 
Tavistock (Financial PR)                  Tel: +44 (0) 207 920 3150 
 Emily Fenton 
 

About Kolar Gold

Kolar Gold is an AIM-quoted India-Finland gold exploration company, that is also establishing an online exchange for the direct ownership and trading of physical gold by retail investors in India.

Kolar Gold's three divisions are:

-- Strong partnership with leading India gold exploration and mine development company, Geomysore, in which the Company owns a 20.5% stake;

   --     Provide a physical gold holding and trading fintech platform for the Indian market; and 
   --     Jurisdictional diversification through gold exploration and production in Finland. 

This information is provided by RNS

The company news service from the London Stock Exchange

END

NRAOKQDNCBKDBBD

(END) Dow Jones Newswires

February 15, 2017 02:00 ET (07:00 GMT)

Lionsgold (LSE:LION)
Historical Stock Chart
From Jun 2024 to Jul 2024

Lionsgold (LSE:LION)
Historical Stock Chart
From Jul 2023 to Jul 2024