GGG Resources plc (formerly Central China Goldfields plc) is a publicly quoted mining exploration company. We own half the mining rights to Bullabulling, a former open pit gold mine in the Coolgardie region, Western Australia. We share the rights jointly (50:50) with Auzex Resources Limited, our Australian partners. Using new exploration techniques and modern computer modelling, we are evaluating the potential of Bullabulling, which currently has an inferred gold resource of 1.98m ounces.
Central China Goldfields shares suspended pending possible offer for Nimu Copper Project
2nd Jun 2009, 8:10 am
Shares in Central China Goldfields (AIM: GGG) were suspended this morning after the company said it had received an approach from the Sichuan Bureau of Metallurgy and Geological Exploration (‘Sichuan’) about a acquiring the company’s interest in the Nimu Copper Project.
Central China Goldfields completed its obligations to earn a 30% interest in the Nimu Project in January 2009, after completing several seasons of exploration drilling, mapping, trenching and geological surveying. The work completed underlined the potential for a world class copper-molybdenum porphyry project at Nimu. Central China also recently announced that it had identified significant amounts of rhenium in the assays.
Central China went on to note that any transaction would likely constitute a formal change of business hence it requested a suspension in its trading.
“At the present time the terms of any transaction, including the level of consideration, is unclear and there is no certainty that a formal offer will be forthcoming,” the company added.
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