* Agrees to buy Acapulco Mining, Central Minerals
* Payment terms include cash, shares, conv notes
* Solomon shares rise 8.5 pct
(Adds details)
Dec 2 (Reuters) - Mining explorer Solomon Gold Plc agreed in principle to acquire two gold exploration companies in Australia for 86.8 million shares and A$2 million in cash and convertible notes, sending its shares up as much as 8.5 percent.
The company said it would acquire Acapulco Mining Pty Ltd, which has key gold projects over the Mt Perry Goldfield in Queensland, for 49.6 million Solomon Gold shares. The company would also acquire Central Minerals Pty Ltd, which has key gold projects on the eastern margin of the southern Bowen Basin in central Queensland, for 37.2 million shares. Solomon Gold said it would also pay A$2 million dollars ($1.86 million), via cash and convertible note, to D'Aguilar Gold Ltd, which owns 79 percent of Central Minerals, to purchase all of the debt owed by Central to D'Aguilar. Solomon Gold shares were trading at 8 pence at 1055 GMT on Wednesday on the London Stock Exchange.
(Reporting by Kumar Alagappan in Bangalore; Editing by Kavita Chandran) ($1=1.078 Australian Dollar) Keywords: SOLOMONGOLD/ (kumar.alagappan@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: kumar.alagappan@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Payment terms include cash, shares, conv notes
* Solomon shares rise 8.5 pct
(Adds details)
Dec 2 (Reuters) - Mining explorer Solomon Gold Plc agreed in principle to acquire two gold exploration companies in Australia for 86.8 million shares and A$2 million in cash and convertible notes, sending its shares up as much as 8.5 percent.
The company said it would acquire Acapulco Mining Pty Ltd, which has key gold projects over the Mt Perry Goldfield in Queensland, for 49.6 million Solomon Gold shares. The company would also acquire Central Minerals Pty Ltd, which has key gold projects on the eastern margin of the southern Bowen Basin in central Queensland, for 37.2 million shares. Solomon Gold said it would also pay A$2 million dollars ($1.86 million), via cash and convertible note, to D'Aguilar Gold Ltd, which owns 79 percent of Central Minerals, to purchase all of the debt owed by Central to D'Aguilar. Solomon Gold shares were trading at 8 pence at 1055 GMT on Wednesday on the London Stock Exchange.
(Reporting by Kumar Alagappan in Bangalore; Editing by Kavita Chandran) ($1=1.078 Australian Dollar) Keywords: SOLOMONGOLD/ (kumar.alagappan@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: kumar.alagappan@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
