Acquires Process Plant

23 Oct 2007 07:02

Celtic Resources Holdings PLC23 October 2007 Celtic Resources Holdings Plc ("Celtic" or the "Company") Celtic purchases 1.5 mta process plant for the Suzdal gold mine Celtic is pleased to announce that it has entered into an agreement to acquire a1.5 million tonne per annum process plant including crushing plant, threegrinding mills of total 3,700 kW capacity and carbon in leach gold treatmentequipment from Anglo Asian Mining Plc ("Anglo Asian") for $7.5 million. The plant is currently containerised and stored in Jurong Port, Singapore andHouston, Texas, USA and arrangements for trans-shipment to Kazakhstan areunderway. Celtic intends to utilise the plant to accelerate the planned significantexpansion of production at the Suzdal mine. The Company considers that thepurchase of this equipment will allow it to realise a significant savingrelative to its budgeted capital expenditure for the expansion of Suzdal. Kevin Foo, Managing Director of Celtic, said: "We regard the acquisition of thisplant as very positive for Celtic as it will allow us to accelerate Suzdal'sexpansion and provide extra crushing and grinding capacity for use within thewider Celtic group." Contact information: Kevin Foo / Jonathan Scott-BarrettCeltic Resources Holdings PlcTel: + 44 (0)20 7921 8800Investors@celticresources.com Leesa Peters / Jane StaceyConduit PRTel: +44 (0)20 7429 6606 / (0)792 292 3306leesa@conduitpr.com Anthony Cardew / Shan Shan WillenbrockCardew GroupTel: +44 (0)20 7930 0777anthony.cardew@cardewgroup.com Strand Partners LimitedSimon Raggett / Stuart FaulknerTel: +44 (0)20 7409 3494 Any person who is the holder of 1 per cent. or more of any class of shares inCeltic may be required to make disclosures pursuant to Rule 8.3 of the IrishTakeover Panel Act, 1997, Takeover Rules 2001 to 2006. The Directors of Celtic accept responsibility for the information contained inthis announcement and to the best of their knowledge and belief (having takenall reasonable care to ensure that such is the case), the information containedin this announcement is in accordance with the facts and, where appropriate,does not omit anything likely to affect the import of such information. This information is provided by RNS The company news service from the London Stock Exchange