Result of EGM Statement & Trading Update

RNS Number : 5741B

Athol Gold Limited

21 February 2011

 



21 February 2011

Athol Gold Limited

("Athol Gold" or "the Company")

Result of EGM Statement & Trading Update

The Board of Athol Gold, the AIM quoted gold and precious metals focused investment company, is pleased to announce that, at the Company's Extraordinary General Meeting held earlier today, all the resolutions were duly passed.

At the meeting a statement from Tom Winnifrith, the Chief Investment Officer of Athol Gold read:

"The investment portfolio continues to perform well with strong exposure to both gold and silver. We note that the gold price has recovered to $1,380 per oz and we expect it to continue heading higher. Silver now trades at $32.50 per oz and we also expect further upside momentum.

"Our largest investment remains Ascot Mining Plc and it continues to make progress both operationally and with its move from Plus to AIM, which we believe will result in a material re-rating.

"On Friday 18 February 2011 the Company made its second largest investment to date acting as a cornerstone investor in a £1.1 million placing by Ariana Resources Plc at 4.75p (with each share coming with one warrant at 4.75p). Just over a year away from production and with no further equity funding needed, we are extremely optimistic about the prospects for Ariana."

Enquiries:

Athol Gold Limited

Alastair Ford

Tom Winnifrith

Tel: [phone]                                         

Libertas Capital

Sandy Jamieson     

Tel: [phone] 

Rivington Street Corporate Finance

Dru Edmonstone

Tel: [phone]

Bishopsgate Communications                                         

Nick Rome                                         

Tel: [phone]

 

END

 

 

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