SINGAPORE (Yosefardi) – LionGold Corp Ltd has ceased all negotiations and discussions in connection with the acquisition and the possible offer of Minera IRL, due to the current volatility in the company’s share price.
In London, Minera IRL Limited also announced its discussions with LionGold Corp Limited regarding a proposed private placement and a possible offer for Minera IRL have ceased.
On Thursday (Oct 10), shares of LionGold gained 26.98% to S$0.24 per unit, after falling 82% in past 5 trading days.
Shares of Asiasons Capital, substantial shareholder in Malaysia-based LionGold Corporation, also soared 43.75% to S$0.24. While shares of Bluemont Group Ltd rose 7.89% to S$0.2050 per unit.
Asiansons and Bluemont shares also dropped significantly in past 5 trading days. Bluemont has some investment in Indonesia. LionGold Corporation has entered into acquisition of minerals projects all over the world in the past few years.