TORONTO, Sept. 24 /CNW/ - Pala Investments Holdings Limited and Pala
Assets Holdings Limited are pleased to announce that today they have jointly
acquired 7,030,887 shares of Anatolia Minerals Development Ltd. (TSX:ANO) from
Kinross Gold Corporation pursuant to share purchase agreements dated
September 21, 2007 for a total consideration of C$40,427,600, or C$5.75 per
share. This brings the total shareholding of Pala Investments and Pala Assets
to 12,476,687 shares, or 15.08% of the outstanding shares of Anatolia. Pala
will also seek to nominate a candidate to the Board of Directors of Anatolia.
Commenting on the investment in Anatolia, Jan Castro, Managing Director
of Switzerland-based Pala Investments AG, which advises Pala Investments
Holdings Limited and Pala Assets Holdings Limited on an exclusive basis, said,
"Pala's investment in Anatolia is a continuation of its strategy to acquire
significant minority stakes in select high quality, low-cost emerging gold
producers with established resource bases and exciting exploration potential.
Anatolia fits very well into this strategy, as its Copler Gold Project is
likely to be the next major gold mine in Turkey, with a total resource base of
6.3 million gold ounces (2.8 million ounces proven and probable and a 3.5
million ounce resource). It also has significant resource extension
possibilities in the Copler Region, a long-term joint venture with Rio Tinto
Mining & Exploration on multiple properties in Turkey, and a strong portfolio
of additional exploration properties. We are excited about working with
management to execute its strategy, including the continuation of an active
exploration program, to realize the full potential of its asset base."
Pala Investments Holdings Limited is a US$1 billion multi-strategy
alternative investment company with a particular focus on mining and natural
resource companies in both developed and emerging markets. Pala Assets
Holdings Limited is a US$700 million alternative investment company focused
primarily on earlier-stage natural resource companies in emerging markets.
Both companies, which are based in Jersey, Channel Islands, seek to assist
companies in which they have long-term shareholdings by providing strategic
advice and innovative financing solutions.
For further information:
For further information: Michael Daniher, (416) 961-2774 ext. 1