LionGold dumps non-core assets

The company will focus on its gold business.

LionGold Corp Ltd has entered into a non-binding letter of agreement with Annica Holdings Limited in which AHL has been granted an exclusive period of up till 30 September 2012 to negotiate the acquisition of LionGold’s 75% interest in Industrial Power Technology Pte Ltd, or such part thereof, on terms to be agreed.

The Board said it will make further announcements relating to the proposed disposal of its interests in IPT in the event an agreement is entered into, whether with AHL or any other party.

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