Sino Gold (ASX: SGX) and Golden China Resources (ASX: GCX); Take-Over Bid CircularThursday October 25 1:01 PMUnder the Offer, Golden China shareholders will receive 0.2222 of a Sino Gold share for every Golden China common share they hold. The Offer implies a value for each Golden China share of C$1.55 (A$1.80) based on the closing price of Sino Gold shares on ASX of A$8.11 on 19 October 2007 (the "Implied Offer Price"). The Implied Offer Price represents a premium of 83% to the closing price of Golden China shares on the TSX of C$0.85 (A$0.95) on 10 August 2007, the last trading date prior to announcement of the Offer. This Offer will be open for acceptance until 11:59 p.m. (Vancouver, Canada time) on November 29, 2007 / 6:59 p.m. (Sydney, Australia time) on November 30, 2007. Full details of the Offer, including the conditions thereto, are contained in the Sino Gold take-over bid circular which, together with the Golden China directors' circular, have been mailed to Golden China securityholders and have also been filed on Sedar at http://www.sedar.com About Sino Gold Limited: Sino Gold has been active in China since 1996 and is China's largest foreign gold producer. The Company is currently operating the Jianchaling Gold Mine in Shaanxi Province and is developing the new Jinfeng Gold Mine in Guizhou Province. Once developed, Jinfeng will be the second largest gold mine in China with production of 180,000 ounces per annum, and potentially the largest when the Phase 2 expansion increases capacity to 300,000 ounces per annum. Sino Gold is a growth gold company that is actively pursuing an acquisition strategy. With a "first mover" advantage, it holds a strong competitive position in China. About GOLDEN CHINA RESOURCES CORPORATION: Golden China Resources Corporation (GCX: TSX; ASX) is a Toronto based mining company focused on China's dynamic precious metals industry. In the short time since our inception in 2004, and has produced substantial growth through the acquisition and development of assets. Golden China is now one of the largest gold producers in China. Contact: Sino Gold: Investor Enquiries: Jake Klein, CEO Roger Howe, Investor Relations +61 2 8259 7000, info@sinogold.com.au Media Enquiries: Kate Kerrision +61 2 6746 3221, kate@katekerrison.com.au Sino Gold website www.sinogold.com.au Golden China: Investor Enquiries: Greg Starr, President & CEO Tel: +61 2 9252 8055 Email: gbstarr@goldenchina.ca or Garry Stein, Vice President & Chief Investment Officer Tel: +1 416-366-8818 Ext. 230 Email: gstein@goldenchina.ca Golden China website www.goldenchina.ca Source: Sino Gold Limited GOLDEN CHINA RESOURCES CORPORATION Copyright (C) 2007 ABN Newswire. All rights reserved. |
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