Business
Annual Financial Report
Annual Financial Report.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n \nRNS Number : 5616I Athol Gold Limited 16 June 2011 \n \n\n Athol Gold Limited 16 June 2011(formerly Hameldon Resources Limited.)\n\n \nFinal Results\nFor the year ended 31 December 2010\nDear Shareholders, \n \nI would like to introduce myself as your new Chairman and am pleased to announce the results of your Company for the year ended 31 December 2010 and other news. As most of the events mentioned occurred prior to my joining the board, I will provide an overview for 2010 and then give a guide to what we expect for 2011.\n \nOVERVIEW\nFor the first nine months of the year the directors continued their search for suitable investment opportunities in the natural resources sector. Then in October 2010 the board decided to bring in a new management team and appointed Tom Winnifrith, manager of the SF t1ps Smaller Companies Gold Fund, as the Company's Chief Investment Officer with a mandate to invest in the shares of principally gold and precious metal companies quoted on stock exchanges in the UK, Canada and Australia, and at the same time the Gold Fund participated in a £500,000 fund raising by the Company. Then in November the Company raised an additional £670,000 through a private placing.\nThe Company's first investment was in Ascot Mining Plc (\"Ascot \") via a subscription for £430,000 of convertible loan stock with attached warrants. Ascot Mining has a focus on gold production in Costa Rica, its flagship ass...