Quarterly Activities Report March 2011
Quarterly Overview
During the quarter, Kentor Gold Limited (Kentor or the Company) prepared to proceed with the fullscale development of the low cost, high grade Andash Gold-Copper Project. On-site works are now expected to commence mid-year. Andash will transform Kentor into a gold-copper producer operating one of the lowest cost gold mines in the world.
Kentor accepted an offer of US$50M in debt finance from Macquarie Bank Limited. This followed a successful $65.2M equity raising in the previous quarter, providing more than sufficient financing to fund the estimated US$96M capital cost of developing Andash.
While the development of Andash remains Kentor’s priority, the Company announced, on 1 April 2011, an agreed off-market takeover offer for Jinka Minerals Limited. A public, unlisted Australian company with advanced gold and copper projects in Australia, Jinka offers Kentor a strong new growth option and geographic diversification outside central Asia.
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