Company Statement
Landore Resources Limited (“Landore”) is the holding company of Landore Resources Inc (“Landore Canada”), a Canadian based company engaged in mineral exploration and development, with the present focus of its operations being mineral exploration in Ontario, Quebec and New Brunswick, Canada. Landore Canada’s principal properties are the “Junior Lake Property” and the Miminiska Lake Property”, both located in the Thunder Bay Mining District, Ontario, Canada. Landore Canada is also the owner of other properties in Canada containing gold and base metal drill intersections.
Landore is a newly incorporated company, formed in February 2005 for the purpose of effecting a court approved arrangement (“Arrangement”) with Landore Canada pursuant to which the Company’s shares have been admitted to trading on AIM. Pursuant to the Arrangement all of the Landore Canada shareholders have exchanged the shares that they held in Landore Canada for Ordinary Shares in the Company and the Company is now the sole shareholder of Landore Canada.
Landore Canada was incorporated in March 1996 and has a wholly owned subsidiary, Brancote US Inc, which holds 10 mineral properties in Nevada in the US. These properties include grass roots exploration areas as well as defined drill targets. Landore Canada has financed its activities to date principally through a series of private placements. The funds previously raised by Landore Canada have been used to finance exploration and development activities on Landore Canada’s properties in Canada and the US.
Current Operations
The Group’s objective is to become a successful mineral explorer and create capital growth for Shareholders through the discovery of economic mineral deposits.
Landore Canada will continue to focus on the continuing exploration of the Junior Lake Property and the Miminiska Lake Property. The funds raised in connection with the Placing will be used to explore and develop Landore Canada’s properties and fund the Group’s general and administrative expenses.
Board of Directors and Key Management
William H. Humphries – Chairman
Richard Ö Prickett – Chief Executive Officer and Finance Director
R. James Garber – Non-Executive Director
Charles E. Wilkinson – Non-Executive Director
Helen F. Green – Non-Executive Director
Major Shareholders
W H Humphries 6.74%, R Ö Prickett 4.48%,Hargreave Hale Limited 4.99%, J P Morgan Fleming 4.99%,
Taheh Holdings Limited 3.49%, Warrant Trustees Limited 3.26%
as at 06/04/05