Business
Announcement re Sunridge Gold
Announcement re Sunridge Gold.
About this update from Antofagasta Plc
[{"type":"text","content":"\n RNS Number : 3971B Antofagasta PLC 26 October 2009 \n\n\nAntofagasta plc\n\nAnnouncement re Sunridge Gold Corp\n\nLondon, 26 October 2009 - As part of Antofagasta plc's (\"Antofagasta\") long-term strategy for growth, its mining division Antofagasta Minerals S.A. (\"Antofagasta Minerals\") entered into an exploration agreement with Sunridge Gold Corp (\"Sunridge\") on 29 September 2009. Under this agreement Antofagasta Minerals can earn an initial 60% interest in Sunridge's Asmara project in Eritrea by funding US$10 million of exploration work over a 5-year period, and a further 15% interest (for an aggregate 75% interest in the project) by delivering a feasibility study on the project. On 2 October 2009, Sierra Gorda Investment Company Limited (\"Sierra Gorda\"), a wholly-owned subsidiary of Antofagasta, acquired 13,588,750 common shares in Sunridge for cash at CDN$0.40 per share under a private placement (amounting to US$5 million and representing approximately 18% of the issued share capital of Sunridge). These shares are subject to a four month hold period until 2 February 2010.\n\nSunridge is a company listed on the TSX Venture Exchange in Canada. As required under the rules of that exchange, Sierra Gorda will today file and announce details of this transaction in Canada. \n \n\n\n\n\nEnquiries - London\nAntofagasta plc\nTel: +44 20 7808 0988\nwww.antofagasta.co.uk\n\nDesmond O'Conor\nEmail: [email protected]\n\nHussein Barma\nEmail: [email protected]\n\nPhilip Holden\nEmail: [email protected]\n\nPress Enquiries - London\nBankside Consultants\nTel: +44 20 7367 8874 \n\nOliver Winters\nEmail: [email protected]\n\n\n\nEnquiries - Santiago\nAntofagasta Minerals S.A.\nTel: + 56 2 798 7000\n\nAlejandro Rivera\nTel: +56 2 798 7145\nEmail: [email protected]\n\nEduardo Tagle\nTel: +56 2 798 7145\nEmail: [email protected]\n\nLuis Eduardo Bravo\nTel: +56 2798 7073\nEmail: [email protected]\n\n\n\n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCEAKEKADENFFE...