Lion Gold

Lion Gold: In a further set back to the gold miner, LionGold’s 77% owned Australian unit Signature Metals announced that its shares have been suspended from trading on the ASX on 1st Jul ’14, due to the company not being able to lodge its annual report within the timeframe required under ASX rules. The delay was the result of Signature Metals not being able to ascertain the carrying value of its assets and liabilities. The latest news come two weeks after LionGold announced that it has been granted an extension of three months (31st Jul to 30th Oct ’14) from SGX to hold its AGM for Mar FY14, due to the company experiencing difficulties in providing certain information to the auditors of its Bolivian subsidiary, Minera Nueva Vista, which has resulted in the group auditors, PwC, being unable to complete the full audit of LionGold. LionGold guides that it is doing all that is necessary to expedite the finalisation of the accounts, in order that it may make the required lodgement.