LIMA Oct 9 Peruvian gold miner IRL
said on Wednesday it is no longer in talks
with Singapore-listed LionGold over that firm's
potential purchase of the small Latin American miner.
"Minera IRL Limited...is announcing that its discussions
with LionGold Corp Limited regarding a proposed private
placement and a possible offer for Minera IRL have ceased," IRL
said in a press release without specifying why.
LionGold was one of three firms listed on the Singapore
Exchange Ltd whose shares were suspended on Friday in
a rare move by the bourse and market regulator.
IRL had announced that the two firms were in advanced
acquisition negotiations on Friday when LionGold's shares were
On Monday when trading resumed shares in LionGold tumbled 60
LionGold, in response to SGX queries about trading in its
share price, said on Monday that it was negotiating with IRL on
a possible offer, but did not explain how the talks might have
caused a drop in its shares.