News - Sino Gold Mining Limited
JOHANNESBURG, September 4 /PRNewswire-FirstCall/ -- Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce that it has disposed of its holding in Eldorado Gold Corporation (Eldorado).
JOHANNESBURG, June 3 /PRNewswire-FirstCall/ -- Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce that agreement has been reached in terms of which Gold Fields will sell its current 19.9% stake in Sino Gold Mining Limited (Sino Gold) (ASX: SGX, HKSE: 1862) to Eldorado Gold Corporation (Eldorado) (TSX: ELD, NYSE-A: EGO) for a total consideration of approximately US$282 million*. Gold Fields will receive a share exchange ratio of 48 Eldorado shares for every 100 Sino Gold shares, which will result in Gold Fields holding 27,824,654 Eldorado shares or approximately 7% of the outstanding shares of Eldorado on a fully diluted basis. In addition, Gold Fields will hold a top-up right for a period of 18 months, which will apply should Eldorado purchase an additional 5% or more of the outstanding shares of Sino Gold and the sellers in that transaction realize a consideration ratio in excess of the share exchange ratio of 0.48 Eldorado shares per Sin
SYDNEY, Australia and JOHANNESBURG, South Africa, May 20 /PRNewswire/ -- Sino Gold Mining Limited (Sino Gold) and Gold Fields Limited (NYSE, JSE, DIFX: GFI) are pleased to announce that: - Sino Gold will undertake a AU$136 million capital raising, the proceeds of which will be used primarily to retire its gold hedge position securing for its shareholders full exposure to the gold price; - The existing exploration alliance between Sino Gold and Gold Fields Australasia BVI Ltd (Gold Fields) a wholly owned subsidiary of Gold Fields Limited, in China, now the largest gold producing country in the world, will be broadened to include a greater range of potential projects; and - Gold Fields agrees to increase its stake in Sino Gold which, after the retiring of its hedge position, will be a financially stronger growth company.
Sino Gold Mining, which is developing China's second-largest gold mine, said it and shareholders plan to sell as much as 1.16 billion Hong Kong dollars, or $148 million, in shares in Hong Kong to fund growth.