Business
Giyani Gold Corp. Advances African and Ontario Projects
OAKVILLE, ON, Nov. 10, 2011 /CNW/ - Giyani Gold Corp. (TSXV: WDG) (" Giyani " or the " Compan...
About this update from Giyani Metals Corp
[{"type":"text","content":"\n\n\n\n\n\nOAKVILLE, ON, Nov. 10, 2011 /CNW/ - Giyani Gold Corp. (TSXV: WDG) (\"Giyani\" or the \"Company\") presents a corporate update on its development projects in South\n Africa and Ontario. As previously indicated, the corporate strategy for\n the Company is to be focused and generative utilizing management's\n extensive development experience in highly prospective gold regions.\n With Giyani's primary focus on pursuing the acquisition and development\n of target assets in South Africa, management has also continued to\n deploy dedicated flow through exploration capital and expertise in\n Ontario on a select basis. In addition to recent progress on the South\n Africa assets, management has undertaken to complement this area of\n interest by expanding and advancing its Ontario exploration activities,\n and in so doing utilize its capacity to enhance stakeholder value.\n\n\nRock Island Acquisition Update\n\n\nThe Company has made submissions to and is liaising with the Toronto\n Venture Stock Exchange (\"TSXV\") to obtain approval of the acquisition of a 45% indirect interest in\n Rock Island Trading 17 (Pty) Ltd. (\"Rock Island\") pursuant to the revised binding agreement between the Company and\n Kytanite Development Corp. announced on October 28, 2011 and approval\n of the Company's previously announced private placement of units\n (including release of the placement proceeds currently held in\n escrow).  The Company anticipates closing of the acquisition and\n private placement to occur in the coming weeks.\n\n\nManagement has been in South Africa for the past several weeks, led by\n Vice President of Exploration, Robert S. Middleton, in preparation to\n initiate its exploration program, beginning immediately with surface\n geophysics at primary sources of historical mining. Data compilation\n and processing, geological mapping, contractor evaluation and\n procurement were included in these preparatory activities. Management's\n representative board member on Rock Island, Executive Chairman Duane\n Parnham will be presenting a detailed exploration plan at the upcoming\n meeting of Joint Venture Partners and Board of Directors of Rock Island\n later this month.\n\n\nAbbie Lake-Keating Property, Ontario\n\n\nThe Company is pleased to announce that it has assembled 3 contiguous\n gold properties covering an 18 kilomet...