GGG Ggg Resources

 
TIDMGGG 
 
GGG Resources plc 
 
                           (the "Company" or "GGG") 
 
             GGG Resourcesplc'sshares commence trading on the ASX 
 
GGG Resources plc (ASX: GGB, AIM:GGG) is pleased to confirm it has now 
successfully listed on the Australian Securities Exchange (ASX). The listing 
follows the successful raising of $A8.13 million, at an issue price of A$0.40 
per share. GGG Resources is already listed on the London Stock Exchange's AIM 
market. Based on the closing price on AIM on 18 May 2011, GGG have a 
capitalisation of approximately A$ 81million (GBP 53million). 
 
GGG Resources principal asset is the Bullabulling Gold Project, held in 50/50 
joint venture with Auzex Resources (ASX:AZX). GGG Resources has made a takeover 
offer for Auzex, in part to consolidate the ownership of the project. 
 
GGG Resources Managing Director, Dr Jeffrey Malaihollo, said that he was very 
pleased to move forward with GGG Resources' ASX listing, after successfully 
raising significant capital from the Australian market. 
 
"The Bullabulling gold project as an asset continues to show exceptional 
promise, with a resource upgrade expected in the near future," said Dr 
Malaihollo. 
 
"We've also successfully demonstrated our ability to source capital from both 
Australia and the United Kingdom to support the rapid advancement of 
Bullabulling. 
 
"What the Bullabulling gold project clearly needs now is an aligned, 
like-minded single group of shareholders to push the project forward," stated 
Dr Malaihollo. 
 
Under the Bullabulling joint venture agreement, when Auzex Resources and GGG 
Resources jointly acquired 50% of the project, the parties agreed to appoint a 
manager to operate the Bullabulling Gold Project as soon as reasonably 
practicable. 
 
"Auzex has not subsequently acquired any management rights over the 
Bullabulling Gold Project under our joint venture agreement. We consider any 
statement made by Auzex that it is the manager of the joint venture to be 
misleading," continued Dr Malaihollo. 
 
"We recognise the importance of having a locally-based management team for 
Bullabulling. Therefore, an immediate priority would be the creation of West 
Australian team devoted solely to the development and operations of the 
Bullabulling Gold Project. This will be in addition to our existing Perth-based 
corporate office. 
 
"Rationalisation of the future decision-making processes in relation to the 
Bullabulling gold project along with consolidated ownership is one of the key 
strategic benefits that would arise should our offer for Auzex be successful. 
 
"Now that GGG Resources is listed on the ASX, Auzex shareholders accepting the 
offer who become GGG Resources shareholders have the option of trading their 
shares via the ASX, which is a welcome development." 
 
GGG has also separately announced that should the offer be successful, 
consideration will be given to holding Bullabulling through an Australian 
subsidiary of the merged entity and/or a re-domicile of the merged entity to 
Australia. 
 
Bullabulling is a former open pit gold mine which the Company is developing 
into a producing mine. It is located near to Perth, Western Australia, with the 
property straddling the main Kalgoorlie highway. 
 
Bullabulling's geology is characterised by low grade and bulk tonnage types of 
deposit amenable to open pit mining. 
 
Contacts: 
 
David McArthur                   David Brook 
 
GGG Resources plc (Australia)    Professional Public Relations (Australia 
                                 media) 
41 Stirling Highway 
                                 T: +61 8 9388 0944/ +61 433 112 936 
Nedlands, WA 6009 
                                 E: david.brook@ppr.com.au 
Australia 
 
Tel: +61 8 9423 3200 
 
Dr. Jeffrey Malaihollo           Westhouse Securities Limited (UK Nominated 
                                 Adviser) 
MD, GGG Resources plc (UK) 
                                 Tom Price / Martin Davison 
Tel: + 44 1992 531820 
                                 Tel: + 44 20 7601 6100 
Email: www.gggresources.com 
 
Neil Boom                        Collins Stewart Europe Limited (Broker) 
 
MD, Gresham PR Ltd (UK).         John Prior / Adam Miller 
 
Tel: + 44 7866 805 108           Tel: + 44 20 7523 8350 
 
 
 
END 
 

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