Business
RATEL GOLD ANNOUNCES CLOSING OF KING-KING ACQUISITION AND SPIN-OUT OF RATEL GROUP
Jan. 7, 2011 (Canada NewsWire Group) -- ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE VANC...
About this update from St. Augustine Gold & Copper Ltd.
[{"type":"text","content":"\n\n\n\n Jan. 7, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE\n\n\nVANCOUVER, Jan. 7 /CNW/ - The Board of Ratel Gold Limited ("Ratel Gold" or the "Company") (TSX Code: RTL) is pleased to announce that it has closed the\n previously announced acquisition of the right to earn a 60 percent\n interest in the King-king project by acquiring all of the issued and\n outstanding common shares of St. Augustine Mining Inc. and 50 percent\n of the issued and outstanding common shares of Strato International\n Holdings Limited from Russell Mining and Minerals, Inc. and its\n subsidiaries ("RMMI") together with an assignment of RMMI's interest in certain material\n contracts relating to the King-king property (the "Acquisition"), as more particularly described in the Company's management\n information circular dated November 19th, 2010 (the "Circular").\n\n\nThe King-king project is one of the largest undeveloped copper-gold\n deposits in the world, with a measured and indicated equivalent\n copper-gold resource of 791.5 Mt at 0.815 g/t equivalent gold for 20.7M\n equivalent gold ounces (0.279% Cu for 4.9B lbs of Cu and 0.371 g/t Au\n for 9.4M ounces of contained Au) and a further 2.75M equivalent gold\n ounces in inferred resources (125.5Mt at 0.237% Cu lbs and 0.308 g/t\n Au).\n\n\nAs consideration for the Acquisition, Ratel issued 80 million shares to\n RMMI upon closing of the Acquisition.
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