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Lexington Gold Ltd

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Why is Billionaire Mr Midas getting involved with Lexington Gold?

 

“…This takes us from a junior explorer into a far, far larger company with potentially multi million ounces in the ground….”

 

In 1979 NASA’s first United States space station Skylab de-orbited and re-entered Earth littering fragments of its disintegrated carcass across Western Australia.  It was an embarrassment to the U.S., but potential treasure for one Mark Creasy keen to find some space junk of historical value.

What he found instead is well documented as one of the most unusual and lucky strikes in mining folklore. Creasy just happened to find a large nickel deposit which led to the Nova nickel mine, and 45 years on he ranks among Australia’s top 50 richest people.

Known as Mr Midas or the prospector with the Midas touch most projects he’s involved with turn to proverbial and literal gold.

And if the deal signed with UK-listed Lexington Gold goes ahead, the UK-listed gold explorer will become the majority shareholder in Creasy’s White Rivers Exploration (WRE) company with access to ‘one of the best gold asset packages in the world.’  Creasy in turn will become a TR1 holder of shares in LEX.

WRE’s package is in South Africa which is the birthplace of Lexington’s CEO Dr Bernard Olivier, although he’s agnostic about where the best assets are with projects in North and South Carolina, USA already in the company portfolio.

The difference with the South African package is that Olivier describes this as a major development for the company particularly as WRE’s database is so valuable in itself, and as he explains to Sarah Lowther in this interview “suddenly we are talking millions of ounces potentially in the ground that we would like to convert to JORC compliant resources.”

 

Just how high can Lexington fly? Recent note by TMS Reach

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Follow the company on Twitter – @LexGoldLtd

 

The author was remunerated but does not hold shares in the company

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