Further to the previous market update of 25 January 2012, the Board of Directors of DGR Global Limited (ASX:DGR) is pleased to report the continued development of its wider global resource interests with the following recent developments:
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? The recent share price increase in ASX-listed Mt Isa Metals Limited (DGR: 50 million shares: 30.6%) based on its exploration success in defining high-grade gold zones within its Nabanga gold project in Burkina Faso, Africa. Nabanga is the most advanced of the Company’s five (5) main gold prospects in Burkina Faso, providing Mt Isa Metals with substantial potential upside;
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? The continued progress of the pre-IPO preparations for Armour Energy Limited (DGR: 75 million shares: 50%) targeting its initial public offering of new shares by way of a prospectus and ASX listing in April 2012. Armour Energy is aiming to explore a potential world-class shale oil and gas project in Northern Australia, complemented by its investment in, and farm-in arrangements with, Victorian- based ASX-listed Lakes Oil Limited. Armour Energy’s IPO is underwritten to $50 million, lead managers are in the process of being appointed, and the prospectus is expected to be lodged with ASIC and available in early to mid March 2012. Applicants for shares under the prospectus will need to complete the application form which will accompany the prospectus;
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