BRM Brinkley Mining

 

TIDMBRM 
 
RNS Number : 1606G 
Brinkley Mining PLC 
27 January 2010 
 
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For Immediate Release 
27 January 2010 
 
 
Brinkley Mining PLC 
"Brinkley Mining" or the "Company") 
 
 
Further minority investment in Dragon Mining Limited 
Restoration of trading on AIM 
 
 
Further investment 
 
 
On 4 December 2009 Brinkley Mining announced that it had purchased an investment 
of 8.13 per cent.  in Dragon Mining Limited ("Dragon"). The Board of Brinkley is 
pleased to announce that it has today purchased a further 4.5 per cent. of 
Dragon for a further cash consideration of A$3 million, equivalent to 
approximately GBP2 million at current exchange rates. Following this further 
investment, Brinkley now owns approximately 12.68 per cent. of Dragon. The 
investment has been financed from Brinkley Mining's cash balances. 
 
 
The balance of the Company's current cash balances (approximately GBP1.0 
million) will be retained by the Company to provide working capital for its 
ongoing costs, professional expenses and be available to fund any further 
investments by the Company in line with its investing strategy which would 
depend on investment (and realisation) opportunities and ongoing costs. 
 
 
Restoration of trading 
 
 
Following this further investment in Dragon, Brinkley Mining has substantially 
implemented its investment strategy for the purposes of the AIM Rules. 
Accordingly, trading on AIM in the Company's shares (which had been suspended on 
20 December 2009) will recommence from 7.30am on 27 January 2010. 
 
 
Further information on Dragon 
 
 
Dragon Mining is listed on the Australian Stock Exchange (ASX Code: DRA) with a 
market value of approximately A$81 million and operates the Svartliden Gold Mine 
in Sweden and the Orivesi and Jokisivu Gold Mines in Finland, which collectively 
produced 74,206 ounces of gold in 2008.  As reported in Dragon's audited report 
and accounts for the year ended 31 December 2008, Dragon had a group total JORC 
compliant reserve and resource as at that date as follows: 
 
 
+----------------------------+-----------+-------------+------------+ 
| Classification             |    Tonnes |  Gold (g/t) |       Gold | 
|                            |           |             |   (ounces) | 
+----------------------------+-----------+-------------+------------+ 
| Measured                   |   453,700 |         3.9 |     56,900 | 
+----------------------------+-----------+-------------+------------+ 
| Indicated                  | 3,411,700 |         5.1 |    555,960 | 
+----------------------------+-----------+-------------+------------+ 
| Inferred                   |     3,246 |         5.2 |    542,800 | 
+----------------------------+-----------+-------------+------------+ 
| Total                      | 7,111,700 |         5.1 |  1,155,660 | 
+----------------------------+-----------+-------------+------------+ 
 
 Notes: 
 
1.    Source: Dragon Mining Limited 2008 audited Report and Accounts. These 
reserves and resources have not been independently verified 
 

     by 

Brinkley Mining. 
 
 
2.    Total above includes Dragon's 20% interest in Zara. 
 
 
In the nine months ended 30 September 2009, Dragon announced that it had 
produced to date 49,097 ounces of gold. In the year ended 31 December 2008, 
Dragon made a profit before taxation of A$8.167 million on a turnover of A$69.98 
million. As at 31 December 2000 Dragon's net assets amounted to A$44.163 
million. For the six months ended 30 June 2009, Dragon announced that it had 
made a loss before taxation of A$7.532 million (after a foreign exchange loss of 
A$16.293) on a turnover of A$40.904 million. Net assets as at 30 June 2009 
amounted to A$43.618 million. Further information on Dragon is available at its 
website, www.dragon-mining.com.au. 
 
 
 
 
For further information please contact: 
Brinkley Mining Plc 
Peter GunzburgTel: +618 94810572 
Beaumont Cornish Limited 
Michael CornishTel: +44 (0) 20 7628 3396 
 
 
 
 
ENDS 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCSEWFMMFSSEEF 
 

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