Result of EGM Statement & Trading Update
21 February 2011
Athol Gold Limited
("Athol Gold" or "the Company")
Result of EGM Statement & Trading Update
The Board of Athol Gold, the AIM quoted gold and precious metals focused investment company, is pleased to announce that, at the Company's Extraordinary General Meeting held earlier today, all the resolutions were duly passed.
At the meeting a statement from Tom Winnifrith, the Chief Investment Officer of Athol Gold read:
"The investment portfolio continues to perform well with strong exposure to both gold and silver. We note that the gold price has recovered to $1,380 per oz and we expect it to continue heading higher. Silver now trades at $32.50 per oz and we also expect further upside momentum.
"Our largest investment remains Ascot Mining Plc and it continues to make progress both operationally and with its move from Plus to AIM, which we believe will result in a material re-rating.
"On Friday 18 February 2011 the Company made its second largest investment to date acting as a cornerstone investor in a £1.1 million placing by Ariana Resources Plc at 4.75p (with each share coming with one warrant at 4.75p). Just over a year away from production and with no further equity funding needed, we are extremely optimistic about the prospects for Ariana."
Enquiries:
Athol Gold Limited
Alastair Ford
Tom Winnifrith
Tel: 01624 676848
Libertas Capital
Sandy Jamieson
Tel: 0207 569 9650
Rivington Street Corporate Finance
Dru Edmonstone
Tel: 020 7562 3350
Bishopsgate Communications
Nick Rome
Tel: 020 7562 3350
This information is provided by RNS