Antipodes Gold Limited: Financing Update
26.11.2014 | Marketwire
WELLINGTON, Nov 25, 2014 - Antipodes Gold (TSX VENTURE:AXG)(NZAX:AXG) ("the Company") announced today the withdrawal of its non-brokered private placement (refer to News Release of 8 May 2014), while it pursues new financing options through company restructuring.With the capital markets for junior gold explorers remaining strongly depressed, the Company is seeking alternative financing options to maintain and realise the value of its key gold assets. This includes an ongoing discussion between Antipodes Gold and an eligible third party to achieve an effective restructuring. While these preliminary discussions have held real promise to date, further due diligence is to be undertaken and the terms of any prospective deal remain to be determined. Shareholder approval will likely be required for any such agreement to be finalised. There is no certainty that any transaction will be completed.
The Company will continue to actively pursue this encouraging opportunity, plus other financing options and will inform the market of any substantive developments.
About the Company
Antipodes Gold is an experienced exploration and development company focused on establishing gold resources in New Zealand's Hauraki region -- host to low-sulphidation epithermal gold-silver deposits including the Newmont-owned Martha gold mine. The Company's strategic priority is to advance the high-grade potential of the joint ventured WKP project (Antipodes Gold 35%, Newmont 65%).
In March 2014 this joint venture was renegotiated to give the company project management and sole-funding control of further planned development of the WKP project, which at present holds an NI 43-101-compliant inferred resource estimate of 260,000 ounces of gold at an average grade of 6.1 g/t Au (and cut-off grade of 3 g/t Au).
This independent technical report, entitled "NI 43-101 Technical Report on the mineral resource estimate for the Wharekirauponga (WKP) Gold Project, Hauraki, New Zealand" was prepared by David Ross, P.Geo. Principal Geologist with Roscoe Postle Associates Inc. Toronto, who is a Qualified Person under NI 43-101.
For more information and to subscribe to further news updates, please visit www.antipodesgold.com.
Mr Simon Henderson, MSc Geology (CODES), an AusIMM Chartered Professional under the Discipline of Geology; is a Qualified Person as defined by National Instrument 43-101 and an employee of the Company, and has reviewed and approved the technical information given above.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor New Zealand Exchange Limited has reviewed this release and neither accepts responsibility for its adequacy or accuracy.
Contact
Antipodes Gold Ltd.
Thomas Rabone, President and Chief Executive Officer
+64 22 649 9690
thomas.rabone@antipodesgold.com
www.antipodesgold.com<