Friday, 8th October 2004 (2554 views)

The Gaming and Entertainment Group (GAM) has announced it is in negotiations to secure a controlling interest on an ongoing gold project in South Africa.

If successful the deal would offer a key change in the company's activities and money raised from it would be used for plant refurbishment and upgrade.

In addition, it would help boost production to create a stronger positive cashflow, according to The Age.

Chairman Bryan Frost explained that the decision to go through with the purchase is dependent on the completion of investigations, shareholder approval and formal agreements.

Information and a report from an independent expert are also to be given to shareholders.

 

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