ASX / MEDIA RELEASE 7 JUNE 2011 COMPANY UPDATE Swan Gold Mining Limited (ASX: SWA) advised on 1 June 2011 that the Board received a conditional offer from DCM DECOmetal GmbH (DCM) for the acquisition of Swan?s subsidiaries that own the Carnegie and Mt Ida gold projects. The offer expired on Friday 3 June 2011. The Board is currently negotiating with DCM DECOmetal and a further announcement will be made when a mutually acceptable agreement has been reached.
From memory IRL has not received all their monies owed to them from Swan Gold (I think called Monarch back then). Also I think they re-negotiated a better percentage and held out for it. So in other words I think (anyone crrect me) if the sale goes through, some more money should be returned to IRL.
IRL Price at posting:
1.3¢ Sentiment: LT Buy Disclosure: Held
