LionGold seeking huge growth

AFTER a huge 12 months, Singapore-listed gold producer LionGold Corp is looking for further acquisition opportunities.
LionGold seeking huge growth LionGold seeking huge growth LionGold seeking huge growth LionGold seeking huge growth LionGold seeking huge growth

LionGold chief operating officer Matthew Gill told Mines and Money Hong Kong that the company had made five acquisitions in the past year, including Victorian producer Castlemaine Goldfields, a major stake in Signature Metals and Republic Gold's Bolivian assets.

The acquisitions added 5 million ounces of gold to LionGold's inventory in just 12 months and Gill said the company was seeking to double that by the end of next year.

"We see no reason why we can't do that again," he said.

Gill said the tough market conditions would present opportunities, but the company had a few investment criteria.

LionGold is seeking resources of at least 500,000 ounces of gold at an enterprise value of less than $US50 an ounce.

And the company will not consider hostile deals - sellers have to be willing.

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