LionGold

LionGold: Market Vectors Junior Gold Miners ETF has increased its stake from 4.32% to 5.03%. In a separate announcement, co to acquire Hellyer Mill Operations from Bass Metals Ltd (BSM) and will subscribe for 58.0m share approx 16.5% of BSM as well. BSM is Aus-listed and is a base metal explorer with JORC-compliant Indicated and Inferred resources of 239k ounces of gold and 7.0m ounces of silver. Hellyer owns an ore processing mill and associated infrastructure and the Hellyer tailings dam which has JORC-compliant Indicated and Inferred resources of 796k ounces of gold and 31.9m ounces of silver. The acquisitions will be done in cash and the subscription price (approx $0.013) for BSM is a disc of 50% to VWAP on the most recent partial trading day. A mortgage over 51% of Hellyer has been given to BSM in the event of material changes in Lion Gold subject to the completion of payment for Hellyer. Co also views the stake in BSM as strategic where co will focus on gold and BSM on base metals.