Sydney, Australia, June 16, 2014 - (ABN Newswire) - Sovereign Gold Co Ltd (ASX:SOC) (Sovereign Gold) has been advised by Mount Adrah Gold Limited (Mount Adrah) that it has withdrawn the IPO of Mount Adrah and has also withdrawn its application to list on the ASX.
Mount Adrah also advises that funds received pursuant to the IPO to date will be returned to investors forthwith.
Sovereign Gold retains its 72.11% interest in Mount Adrah.
About Sovereign Gold Company Limited:
Sovereign Gold Co Ltd (ASX:SOC) is an Australian-based gold exploration and development company that holds a highly prospective tenement package, for Intrusion-Related Gold Systems (IRGS), in New South Wales, Australia. Sovereign Gold holds 11 Exploration Licences covering over 3,240km2 near Armidale in NSW, including the historic Rocky River-Uralla Goldfields. Sovereign Gold's aggressive exploration program in several of these licence areas is funded via a joint venture (at the tenement level) with Jiangsu Geology & Engineering Co Ltd (SUGEC), a major Chinese State-owned geology enterprise. The other area of focus is the Mt. Adrah Project, approximately 50km southeast of the regional NSW centre of Wagga Wagga and 23km northwest of the historic mining district of Adelong, via an 87% interest in unlisted Gossan Hill Gold Limited. This area contains the recently discovered, world-class, Hobbs IRGS deposit which is currently under evaluation.
Sovereign Gold Co Ltd