Business
Acquires Process Plant
Acquires Process Plant.
About this update from Cerillion Plc
[{"type":"text","content":"\n Celtic Resources Holdings PLC\n23 October 2007\n\n\n\n Celtic Resources Holdings Plc\n (\"Celtic\" or the \"Company\")\n\n Celtic purchases 1.5 mta process plant for the Suzdal gold mine\n\n\nCeltic is pleased to announce that it has entered into an agreement to acquire a\n1.5 million tonne per annum process plant including crushing plant, three\ngrinding mills of total 3,700 kW capacity and carbon in leach gold treatment\nequipment from Anglo Asian Mining Plc (\"Anglo Asian\") for $7.5 million.\n\nThe plant is currently containerised and stored in Jurong Port, Singapore and\nHouston, Texas, USA and arrangements for trans-shipment to Kazakhstan are\nunderway.\n\nCeltic intends to utilise the plant to accelerate the planned significant\nexpansion of production at the Suzdal mine. The Company considers that the\npurchase of this equipment will allow it to realise a significant saving\nrelative to its budgeted capital expenditure for the expansion of Suzdal.\n\nKevin Foo, Managing Director of Celtic, said: \"We regard the acquisition of this\nplant as very positive for Celtic as it will allow us to accelerate Suzdal's\nexpansion and provide extra crushing and grinding capacity for use within the\nwider Celtic group.\"\n\n\nContact information:\n\nKevin Foo / Jonathan Scott-Barrett\nCeltic Resources Holdings Plc\nTel: + 44 (0)20 7921 8800\[email protected]\n\nLeesa Peters / Jane Stacey\nConduit PR\nTel: +44 (0)20 7429 6606 / (0)792 292 3306\[email protected]\n\nAnthony Cardew / Shan Shan Willenbrock\nCardew Group\nTel: +44 (0)20 7930 0777\[email protected]\n\nStrand Partners Limited\nSimon Raggett / Stuart Faulkner\nTel: +44 (0)20 7409 3494\n\n\nAny person who is the holder of 1 per cent. or more of any class of shares in\nCeltic may be required to make disclosures pursuant to Rule 8.3 of the Irish\nTakeover Panel Act, 1997, Takeover Rules 2001 to 2006.\n\nThe Directors of Celtic accept responsibility for the information contained in\nthis announcement and to the best of their knowledge and belief (having taken\nall reasonable care to ensure that such is the case), the information contained\nin this announcement is in accordance with the facts and, where appropriate,\ndoes not omit anything likely to affect the import of such information.\n\n\n\n\n This information is provided by RNS\n The company ne...