Singapore's LionGold in talks to acquire stake in gold miner
SINGAPORE (REUTERS) - Singapore-listed gold miner LionGold Corp whose shares are suspended by the Singapore Exchange, said it is at an advanced stage of negotiations to acquire a stake in a company listed on three foreign stock exchanges.
But the unnamed target firm, which has a producing gold mine as well as gold mines under development, is considering if the acquisition should continue in view of the suspension, LionGold said in a stock exchange filing.
The target company was introduced to LionGold by Jennings Capital Inc, a Canada-based investment dealer, LionGold said.
The Singapore Exchange suspended trading in three stocks on Friday, warning the market may not be fully informed after a plunge in their share prices, with one falling more than 60 per cent.