Business
Update Re: Investment
Update Re: Investment.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n Templar Minerals Limited 17 July 2008 \nFor immediate release 17 July 2008\n\nTemplar Minerals Limited\n(the 'Company' or 'Templar Minerals')\nTrading Update from the Vatukoula Gold Mine in Fiji\n\n \nTemplar Minerals notes the recent Trading Update announcement made on 15 July 2008 by River Diamonds PLC (\"River Diamonds\") concerning its 100% owned Vatukoula Gold Mine in Fiji. \nTemplar Minerals currently holds 285,000,000 ordinary shares in River Diamonds representing 16.9% of River Diamond's issued ordinary share capital. As announced on 8 May 2008, Templar agreed to purchase a further 143,290,000 ordinary shares in River Diamonds which when aggregated with its existing interest would take the holding to 25.42% of River Diamonds' issued ordinary share capital. This latter transaction has not yet completed and a further announcement will be made in due course.\nDavid Lenigas, Chairman of Templar Minerals commented:\n\"Templar Minerals is delighted with progress being made at the Vatukoula Gold Mine by River Diamonds. Initial obstacles have now been resolved and the mine is now well positioned to achieve a production rate of 110,000 ounces per annum by the middle of 2009.\"\n\nThe full announcement issued by River Diamonds on 15 July 2008 states as follows:\n\n\"River Diamonds (AIM: RVD) announces an operational update from its 100% owned Vatukoula Gold Mine in Fiji (\"the Mine\"). \n\n\nHIGHLIGHTS\n\n\nCompletion of 100% acquisition of the Mine in April 2008\n\n\nGold production commenced in April 2008 with the re-commissioning of the Vatukoula Treatment Plant\n\n\nF...