G11 - G11 Resources

[Joe Blow]

Lawson Gold Limited is a gold exploration company to be listed on the ASX that is focussed on the discovery of economic gold deposits, particularly at its Lawson Gold Project. The Lawson Gold Project is situated in one of the best known goldfields in the world, with several significant gold deposits and mines located nearby, including the Paddington Gold Mine and Barrick Gold Corporation's Kanowna Belle gold mine.

Lawson Gold was established in early 2010 by its parent, FerrAus, via a spin out of the Lawson Gold Project. While Lawson Gold is wholly committed to advancing the Project, it is the Company’s intention to take advantage of new investment opportunities if and when they arise.

http://www.lawsongold.com

 

[springhill]

MC - $2.5m
SP - 10c
Shares - 25m
Options - 1m
Cash - $1.8m

Directors & Management
David Hillier
David Turvey
Peter Watson
Donald Stephens

Top Shareholders
JP Morgan Nominees 13.6%
John Nyvlt 10.0%
First Samuel 7.0%
FerrAus Limited 6.0%

Lawson Gold expects to complete formal documentation with Saudi Arabian company Mawarid Investments Limited (Mawarid) to acquire a controlling stake in a large portfolio of gold, copper and base metal exploration assets in the Kingdom of Saudi Arabia within the next week or two. Marrying the intricacies of Saudi law and custom with Australian law has presented its challenges resulting in the agreements taking far longer to complete than initially anticipated. Negotiation of the final details continue in good faith.

The transaction requires formal documentation and is subject to a number of conditions and shareholder and regulatory approvals. LSN shareholders will receive more details once agreements are signed, including a notice of meeting and explanatory memorandum, independent expert reports and a prospectus.
Negotiations have commenced with a financier to raise the minimum initial funding requirement of A$15 million at 20c per share on standard commercial terms. LSN shareholders will be given a priority entitlement to subscribe for the new shares. Funds will be utilised to accelerate exploration on a number of high priority targets on the 2,247 km ² tenement package in Saudi Arabia.

Lawson Gold will be transformed into an Arabian-Nubian Shield focused gold and base metals exploration company. The Arabian-Nubian Shield is host to a number of significant mines including the ~10 million ounce Sukari gold mine in Egypt owned by Centamin plc and the Jabal Sayid high-grade copper deposit in Saudi Arabia now owned by Barrick Gold. LSN will manage the exploration programme in Saudi Arabia with a US$8m Year 1 spend.

Exploration activities planned for July - September 2012 include:
• Progress granting of EL27/478. Obtain and evaluate all open file technical information and establish the “best routes and methods” for access to EL27/478.
• Prepare and submit Program of Works (POWs) to WA Department of Minerals & Petroleum (DMP)
• Conduct Aboriginal Heritage surveys (if required by POW approval)
• Complete surface or auger soil sampling to evaluate new tenements and gold exploration targets.
• Planning of follow-up aircore &/or RAB drilling programs
Additional focus during this period will remain on evaluating and negotiating growth opportunities by way of joint venture, acquisition and other corporate activity which have presented, or as they present, themselves.

 

[System]

On November 2nd, 2017, Lawson Gold Limited (LSN) changed its name and ASX code to Odin Metals Limited (ODM).

 

[System]

On December 1st, 2023, Odin Metals Limited (ODM) changed its name and ASX code to G11 Resources Limited (G11).