RNS Number : 8084X
Leyshon Resources Limited
30 June 2008
30 June 2008
Hong Kong Stock Exchange Listing
Leyshon Resources Limited ("Leyshon") (AIM & ASX: LRL) is pleased to announce that it is
considering a proposed secondary listing on the
Main Board of the Stock Exchange of Hong Kong Limited (the "SEHK").
The Hong Kong market is the leading international marketplace for securities and derivatives
products with focuses on Hong Kong, Mainland
China and the rest of Asia. SEHK ranked number nine among the world major exchanges in term of
equity turnover in the year 2007 with a
reported total equity turnover of US$2,139 billion in 2007.
As reported in the first quarterly report of the SEHK, as at 31 March 2008, 1,055 and 189
companies were listed on the Main Board and
the Growth Enterprise Market of the SEHK respectively with a total market capitalisation of
about HK$16,937.9 billion. The average daily
turnover value on the SEHK for the three months ended 31 March 2008 reached HK$98.7 billion.
The principal business of Leyshon is gold mining in the People's Republic of China. It
has commenced development of a major gold mine
in Heilongjiang province in North Eastern China by way of a sino foreign joint venture with
one of China's respected geological institutes,
the Qiqiha'er Brigade of the Heilongjiang Bureau of Geology and Mineral Resources. The mine is
expected to start production by the end of
2009 with an estimated annual output in excess of 100,000 ounces of gold.
Hong Kong, being part of Mainland China, is a natural choice for companies with
substantial businesses and operations in China seeking a
listing on an internationally recognised market. The Directors are of the view that the
proposed listing of Leyshon on the SEHK, an
internationally recognized stock exchange with a strong legal system, sound regulatory
framework and high liquidity, will enable it to
expand its shareholder base and fund-raising opportunities, in particular in the rapidly
growing Asian market.
Leyshon has appointed Somerley Limited as its financial adviser in regard to the proposed
secondary listing. Founded in 1984, Somerley
Limited is a specialist financial services company based in Hong Kong with a proven track
record of providing professional corporate finance
advisory services in the areas of IPO, secondary issues, mergers and acquisitions and
specialised financial advice.
For further information contact:
Leyshon Resources Limited
Paul Atherley - Managing Director
Tel: +86 137 1800 1914
Mob: +61 417 475 038
Pelham Public Relations
Charles Vivian
Tel: +44 (0)207 743 6672
Mob +44 (0)7977 297903
James MacFarlane
Tel: +44 (0)207 743 6672
Mob: +44 (0)7841 672831
Seymour Pierce
Jonathan Wright
Tel: +44 (0)207 107 8000
http://www.leyshonresources.com
Background Information
Leyshon is fully engaged in China with its main operating office in Beijing its Chairman,
Managing Director and Chief Operating Officer
all based in China. Over 80% of employees are either native Chinese or Mandarin speaking.
The Company is rapidly progressing the Zheng Guang gold zinc project to production status
and is aiming to jointly develop it as the
first ever Sino Foreign owned mine in the mineral rich province of Heilongjiang in 2008.
The project benefits from exceptional infrastructure as it is located within a well
established coal and copper mining community with
rail, power, water and mining contractor services immediately available.
Changchun Design Institute has recently reported that the capital cost estimate for the
1.5 million tonne per annum combined carbon in
leach and flotation circuit process plant is RMB323 million RMB (US$46 million). Orders have
been placed for two 4.6 metre diameter ball
mills at a cost of RMB15.2 million (USD 2.1 million) and a RMB12.1 million (USD 1.7 million)
order has also been placed for the supply of a
700 tonne per hour Nordberg crushing circuit.
Leyshon's partner, the Qiqiha'er Brigade of the Heilongjiang Bureau of Geology and Mineral
Resources, one of the largest organizations
of its kind in China, is providing a range of services to the joint venture from its
complement of 4,000 technical staff, drill rigs,
laboratory and other technical facilities. This valuable support is enabling the project to
rapidly move ahead on an extremely
cost-effective basis.
This information is provided by RNS
The company news service from the London Stock Exchange
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