Pearl Gold AG i.I.
Pearl Gold AG: Second half year 2012 announcement according to Article 37x of the WpHG [the German Securities Trading Act]
Pearl Gold AG / Pearl Gold AG / Release of an announcement according to Article 37x of the WpHG [the German Securities Trading Act] 20.11.2012 11:12 Interim report according to Article 37x of the WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Status Report Pearl Gold AG, November 19, 2012 * Due to the fact that production at Wassoul'O SA only commenced in 2012, no noteworthy turnover to date for Pearl Gold AG. * Great progress with Wassoul'Or SA's commencement of production for the Kodiéran project * Very extensive exploration programme in other parts of the concession area by Wassoul'Or On September 25, 2012, Pearl Gold AG was admitted to the General Standard of the Frankfurt Stock Exchange. Thus, the company was prematurely able to achieve its ambitious goal by entering the regulated market in the current business year. Pearl Gold AG's changeover into the General Standard was the most outstanding occurrence in the third quarter of 2012. This relisting followed the publication of an extensive prospectus, which was approved by the Federal Agency for Financial Market Supervision (Bundesanstalt für Finanzdienstleistungsaufsicht) on September 14, 2012. Both Pearl Gold AG's figures as per August 31, 2012 as well as Wassoul'Or SA's balance sheets as per December 31, 2011, which were established pursuant to international accounting standards, were provided in detail in the prospectus. No substantial changes have occurred in the asset, financial or profit situation of Pearl Gold AG since August 31, 2012. The progress in the commencement of production in the Kodiéran project by Wassoul'Or SA is of great importance for Pearl Gold AG's further development. In the meantime, a production capacity of 10,000 tons per day has been reached. Nevertheless, the production capacity of some parts of the process requires optimisation in order to attain a complete process flow at a level of 10,000 tons. At the moment, intermediate products of some areas are stored before these are re-introduced into the process at a later stage. Such optimisation requirements are, however, considered to be normal in the commissioning of industrial plants. In order to attain an optimisation of the process, Wassoul'Or is assisted by internationally esteemed companies and is confident that a speedy solution will be reached. Members of Pearl Gold AG's Supervisory and Management Boards visit Mali on a regular basis in order to view and supervise progress. The company is currently not concerned that the political situation in Mali will adversely affect the fundamentals of the project. However, the involvement of international consultants was partially complicated by undifferentiated travel warnings, which in turn led to a delay in the commencement of production, Wassoul'Or SA receives strong support from the Malian government. The government's support for the Kodiéran project was not only demonstrated by the Mining Minister Sy's presence at the listing in the General Standard and his two-day visit to the mine in November this year but is also underlined by the close relationship between Wassoul'Or, Pearl Gold AG and the minister. Wassoul'Or has achieved further progress in the area of expansion and mining of other mineralised occurrences during the reporting period. Up to the end of September of this year, more than 20,000 metres of RC drilling in more than 300 holes was carried out around the current pit. Furthermore, a total of more than 8,900 metres of RC-drilling in nearly 400 holes was carried out in a further concession area (Traoréla). These drillings are currently being evaluated and reportable results are expected within the next months. The aim is to determine the reserves according to the Canadian standard 43-101 for both areas and, thus, to achieve a notable expansion of the reserves. Frankfurt, November 2012 Pearl Gold AG Management Board For Inquiries: MSL Financial Press@pearlgoldag.com Tel: +49 (0) 69 6612456 8394 20.11.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Pearl Gold AG An der Welle 4 60322 Frankfurt Germany Internet: www.pearlgoldag.com End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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