Last checked at 28 Oct 2010 10:31
HAMELDON RESOURCES LIMITED
Investment Update
On 26 October 2010, the Board of Directors of Hameldon Resources Limited ("HRE" or the "Company") announced that the Company had raised £500,000 by way of a placing of new ordinary shares in the Company and the issue of convertible loan notes.
These funds have now been used to fulfil the Company's investment strategy, approved at an EGM on 26 October 2009, to invest in the natural resources sector.
In accordance with its investing policy the Company has acquired minority positions, ranging from stakes of 0.01 to 0.3%, in a total of ten gold and precious metal companies, eight of which are quoted on the London Stock Exchange and two of which on the TSX. The individual stakes taken range from £30,000 to £43,000 and the total consideration of approximately £400,000 has been fully satisfied in cash.
The companies invested in range from exploration and development companies focused on gold and other metals projects to producing gold mines with operations located across regions in Africa, Asia-Pacific, Europe and the FSU. The Company continues to evaluate various new opportunities, which would meet its investment criteria, with a particular focus on gold and precious metals.
For further details, please contact:
Hameldon Resources Limited
Waseem Shiraz
+44 207 399 4380
Tom Winnifrith
+44 1624 676848
Strand Hanson Limited
James Harris / Angela Peace
+44 207 409 3494
Bishopsgate Communications
Nick Rome
+44 207 562 3350