BRT BRN
BRT
BRT/BRN - Brimstone Investment Corporation Limited - Voluntary Announcement
Regarding Brimstone`s Investment In Galaxy Gold Mining Limited
BRIMSTONE INVESTMENT CORPORATION LIMITED
BRIMSTONE INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1995/010442/06)
Share Code: BRT
ISIN Number: ZAE000015277
Share Code: BRN
ISIN Number: ZAE000015285
("Brimstone")
VOLUNTARY ANNOUNCEMENT REGARDING BRIMSTONE`S INVESTMENT IN GALAXY GOLD MINING
LIMITED ("GALAXY GOLD")
Holders of ordinary and "N" ordinary Brimstone shares are advised that Brimstone
has subscribed for 8,000,000 ordinary shares in the share capital of Galaxy Gold
("Galaxy Gold ordinary shares") (6% of the Galaxy Gold ordinary shares in
issue). Brimstone also has an option to acquire up to a further 8,000,000 Galaxy
Gold ordinary shares until 30 June 2011.
Galaxy Gold (www.galaxygold.co.za) is a South African gold mining and
exploration company, focused on exploitation of the Barberton Greenstone Belt
("BGB"). The company`s priorities are to bring to account more than 1 million
ounces of SAMREC and JORC compliant resources and simultaneously to explore
substantial further upside.
Galaxy Gold`s three, unique "enablers" are: in-depth knowledge of BGB geology;
high-volume materials handling capability and expertise; and the use of licensed
and tested Biox metallurgical technology appropriate for BGB ores. The company`s
intention is to list on the Johannesburg Stock Exchange by the fourth quarter of
2011.
It should be noted that the value of the transaction for Brimstone is less than
5% of Brimstone`s market capitalisation and accordingly this announcement is
made voluntarily.
Cape Town
2 March 2011
Investment Bank and Sponsor
Nedbank Capital
Date: 02/03/2011 16:00:02 Produced by the JSE SENS Department.
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