Deutsche Rohstoff AG: Sale of Georgetown Goldmine completed

Deutsche Rohstoff AG

Deutsche Rohstoff AG: Sale of Georgetown Goldmine completed

Deutsche Rohstoff AG

FIRB approval and AUD 10 million initial payment received

Heidelberg/Brisbane. Deutsche Rohstoff AG is pleased to report that the sale of its Georgetown Goldmine in North Queensland, Australia, has been completed today. The outstanding approval of the Australian Foreign Investment Review Board was granted last week. The initial payment of AUD 9.5 Million was effected by the buyer, Brisbane-based JKO-Mining Ltd, with completion. Another AUD 0.5 million was paid as exclusivity premium in June and August. The remaining purchase price (AUD 6 million) will be paid in 4 quarterly tranches over the next 11 months, according to the sales agreement.

Heidelberg, 22 October 2012

 

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