Ganesh Sahathevan

What Nicholas Ng , CEO LionGoldCorp told the SGX and Singapore investors: SINGAPORE, 23 January 2013 – LionGold Corp Ltd’s (“LionGold” or “the Group”) wholly  owned Castlemaine Goldfields produced 27,512 ounces of gold at its Ballarat Mine in 2012, its  first full year of production. Resulting gold sales generated revenue of A$43.4 million, about   S$56 million. For the year, 146,000 tonnes of gold-bearing ore were processed at an average  grade of 7.4 grams per tonne. Average gold recovery was 86%. Under Castlemaine ownership, the Ballarat gold mine poured its first gold bar in September  2011.  The mine then embarked on a six to nine month production ramp-up. Commenting on Castlemaine’s achievement, Chief Executive Officer Nicholas Ng stated,  “Ballarat has made the transition from explorer to producer and is targeting an annualised production rate of between 40,000 to 50,000 ounces in 2013 .  With the  successful ramp-up complete, LionGold...

The LionGoldCorp spi n: Under Castlemaine ownership, the Ballarat gold mine poured its first gold bar in September  2011 . The mine then embarked on a six to nine month production ramp-up. The average annualised rate for the 9 months to December 2012 has been 30,000 ounces per annum. The Ballarat gold mine is expected to produce between 40,000 and 50,000 ounces of gold in 2013. Commenting on Castlemaine’s achievement, Chief Executive Officer Nicholas Ng stated, “Ballarat has made the transition from explorer to producer and is targeting an annualised production rate of between 40,000 to 50,000 ounces in 2013. With the successful ramp-up complete, LionGold has demonstrated its ability to identify and acquire gold projects which build value for our shareholders. We look forward to providing updates on the Group’s other projects as these are progressed” The underlying reality , reported on 21 November 2011, AFTER  Castlemaine's "achievement of pouring its first gold bar in ...

As reported in The Edge Financial Daily, 28 June 2012: Sir Richard Branson’s Virgin Atlantic Airways Ltd is expected to divest its 10% stake in AirAsia X Sdn Bhd to local existing shareholders for more than RM66 million (US$21 million) ".... investors got an inkling of Air Asia X’s valuation (in 2008)  when Japan’s Orix Group and Manara Consortium took a 10% stake each in Air Asia X for a total sum of RM250 million. The deal effectively valued Air Asia X at RM1.25 billion." ".....“If it is true that Virgin is disposing of its 10% interest in Air Asia X for RM66 million, then the valuation of Air Asia X has changed,” said a banker." http://www.theedgemalaysia. com/in-the-financial-daily/ 216158-virgin-atlantic-exits- airasia-x.htm Readers are reminded that these were share transactions in a private company involving  long term shareholders to  which the existing  majority  would have had to agree. How much one buys and sells bits and pieces of one's own company i...

LionGold Ltd, a company listed on the Singapore Stock Exchange (SGX)is being touted by its supporters in the media, particularly Malaysia's The Star, as the next big thing in mining, mostly on the back on the company's takeover of the Castlemaine Goldfields in Ballarat. As The Star sees it: LionGold Corp Ltd , the Malaysian-controlled, Singapore listed gold miner, is poised to embark on another series of acquisitions that could nudge it to become one of Asia's largest gold mining players, sources said.    StarBiz had first reported on the SGX-listed LionGold last September, interviewing its executive chairman Tan Sri Nik Ibrahim Kamil , a former head honcho of KFC Holdings Bhd and the NSTP group.  LionGold already boasts control over three producing gold mines and a few more mines that are close to the production stage. One of the producing mines is the state-of-the-art Ballarat mine, near Melbourne, whose parent company, Castlemaine Goldfields Ltd , was a...

Michelle Yeoh is now officially Tan Sri Datuk Seri Michelle Yeoh : International film actress  Datuk Seri Michelle Yeoh  is among prominent personalities who will receive one of the highest honours awarded in conjunction with the birthday of  Yang di-Pertuan Agong Tuanku Abdul Halim Mu'adzam Shah  today. Yeoh, who is the Malaysia brand ambassador, will receive the Panglima Setia Mahkota (P.S.M.) which carries the title “Tan Sri”. Yeoh is not one to hide her  loyalty  to her leader:   Datuk Seri Michelle Yeoh  has defended her decision to openly support  Prime Minister Datuk Seri Najib Tun Razak . Yeoh openly expressed support for the Prime Minister at a gathering organised by the Federation of Chinese Descendents of Selangor on Saturday. “We have a leader here who has done so many good things and will do more. “I hope from the bottom of my heart that he will remain as the Prime Minister and I ask all of you to give him a strong mandate,” she ...

Tony Fernandes's AIr Asia X IPO is up and running after being talked about for the past three years. Media in Malaysia and elsewhere  have been happy to promote it, but are saying nothing of the fact that Richard Branson's Virgin Group sold out of his Air Asia X less than a year go, despite the impending IPO. The following is presented to readers as a reference so that they may arrive at their own conclusions. A) Fernandes's valuation of   Air   Asia   X , based on a reported IPO price of RM 1.30 per share, and      2,370,370,387  paid-up shares post-IPO : (252/0.106)*1.3 = 3090.56603774 million  (   Tan Sri Tony Fernandes  will be on a roadshow to meet retail investors and remisiers across the country in early June for the  AirAsia   X  (AAX) initial public offering, whose shares are likely to be priced at RM1.10 to RM1.30 a share.  The airline is offering a larger retail portion than most companies in...

As Minister For Climate Change,and Industry and Innovation Combet continues to display the same disregard for financial management that he did at Defense (see story below). Combet was recently queried about a three year  contract  his   Department of Industry and Innovation  awarded late last year for the cleaning of the  National Measurement Institute and Australian Astronomical  Organisation's  new  offices and laboratories in  Ryde. The NMI's labs are highly secure given its responsibility for legal metrology. As well, it provides testing services to the Australian Federal Police and the Australian Sports Anti-Doping Authority (ASADA). Regardless of the highly technical nature of the work involved, the contract was awarded a company with no prior experience   in the cleaning of laboratories.  Within a month of the contract commencing Combet's Department requested a variation of that contract which resulted in a  reduct...