News Column

Sovereign Gold Company Limited - Major shareholder acquires Mount Adrah Stake

July 2, 2014



ENP Newswire - 02 July 2014

Release date- 30062014 - Sovereign Gold Company Limited (ASX: SOC) advises that Hudson Resources Limited (ASX: HRS) has acquired a 17.2% holding in Mount Adrah Gold Limited, a subsidiary of Sovereign Gold.

Hudson completed the acquisition of 10 million shares and 10 million options in Mount Adrah from AceA Resources Pte Ltd for $2 million (20 cents per share). Mount Adrah has 58 million shares on issue, giving a value to Mount Adrah of $11.6 million based on the acquisition price.

Hudson holds 40 million shares in Sovereign Gold representing a 25.5% interest.

'We are very encouraged by this display of confidence by Hudson, which have maintained their position in Sovereign Gold since its IPO back in 2011', said Michael Leu, Sovereign Gold CEO. 'Mount Adrah is Sovereign Gold's flagship project and Hudson taking such a strong position bodes well for its future prospects.'

Corporate Restructure

Sovereign Gold and Precious Metal Resources Limited (ASX: PMR) announced a proposed corporate restructuring to rationalise and simplify the structure and assets of each company. The meeting for shareholders to approve the restructure is expected to be held in the current quarter.

Investor Contact:

Henry Kinstlinger

Sovereign Gold Company Limited

Tel: +61 2 9251 7177


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Source: ENP Newswire


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