News

Friday, March 11, 2016

Malaysians to invest in Ghana gold project
Audrey Agyiri-Inkoom, Ghanadot

Accra, Dec 15, Ghanadot - Noble Mineral Resources Limited, an Australian mineral exploration company has extended invitation to institutional investors in Malaysia and other Asian countries to participate in its Biaiani gold investment project in Ghana.

Noble is set to be a major gold producer after it recently won a tender to acquire Central African Gold Ghana Limited (CAGGL) from Investec Bank Limited.

Noble’s chairman Tunku Naquiyuddin Tuanku Ja’afar said investors could participate in the project through private placement of A$60million, representing an opportunity to subscribe up to 45 per cent shares in Noble or up to 50million shares.

“There is clearly a serious opportunity for Malaysian institutions to get involved through this private placement option,” Tunku Naquiyuddin said at a press conference in Kuala Lumpur.

He said currently, there were ongoing talks with a number of major groups in Malaysia which have
expressed interest to participate in the Investment opportunity.

Noble, he added, already has a significant Malaysian interest through Global Gold Holdings Limited, which is the largest corporate shareholder in Noble.

Tunku Naquiyuddin has a stake in Noble through Global Gold Holdings.

Noble’s Managing Director, Wayne D. Norris, said CAGGL has the gold mine concession at a well –known site called Bibiani in Ghana which is estimated to have current gold resources of 1.624million ounces, worth US$1.86billion at the current market price of US$1,150 per ounce.