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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (31293)	1/15/2009 10:08:31 PM
From: LoneClone	Read Replies (1) \| Respond to of 194482

Evraz co-owners buy almost 10% of Highland Gold Mining steelguru.com Interfax reported that Tremadon Ventures Limited has acquired a 9.99% stake in Highland Gold Mining, which produces gold in Russia. HGM said in a statement that the beneficiaries of Tremadon Ventures, which is registered in the Virgin Islands, are Mr Alexander Abramov Evraz Group shareholders and Mr Alexander Frolov. Tremadon Ventures acquired the 9.99% stake in HGM from businessman Mr Roman Abramovich's Primerod International Limited, which had owned a 32% interest in HGM. The company said that Mr Valery Oif GD of HGM, who was appointed in fall 2008, owned 2% of the company via Primerod at the time he was appointed. Millhouse completed the acquisition of 40% of HGM for USD 400 million in early 2008. Millhouse increased its interest in HGM from 25% to 40% after subscribing to USD 200 million worth of new shares in a second subscription. However, in May Millhouse sold an 8% stake in the company to Mr Yevgeny Shvidler HGM independent director and chairman of the board and his partners. Besides Millhouse, Barrick Gold is also a large shareholder in HGM. A company called Lanebrook owns around 76% of Evraz. Lanebrook's beneficiaries, on the one hand are Millhouse, the holding company for the assets of billionaire Mr Roman Abramovich and his business partners and Alexander Abramov Evraz executives and Mr Alexander Frolov on the other. Shareholders in Ukraine's Privat Group own just fewer than 10% of Evraz.