Securities prospectus - Pearl Gold AG

More documents

Recommendations

Info

PEARL GOLD AG’s ability todistribute dividends criticallydepends on whether it receivesdividend distributions from itsinvestment in Wassoul’OrThe timing of dividend distributionsdepends on factors that are beyondPEARL GOLD AG’s control, andlarge fluctuations may thereforeresult.There are risks related to theacquisition of other businessinterests or licences.Major shareholders may exert greatinfluence on the development of theCompany.Risks relating to MaliEmerging markets such as Mali,where Wassoul’Or currentlyoperates, are subject to greater risksthan markets which are alreadydeveloped and any impairment ofeconomic conditions in thesemarkets could disrupt the operationof Wassoul’Or.Wassoul’Or's operations are subjectto the basic legal and politicalconditions in Mali, changes to whichmay have an adverse effect on thenet assets, financial position andresults of operations of Wassoul’Orand the Company. Potential national and localresistance to mining could lead todisruptions in Wassoul’Or's currentand planned operations andexploration projects.Legal Risks In the course of its businessoperations, the Company may faceregulatory and judicial proceedings22
D.3 Key information on major risks thatapply to securities.which may result in financialobligations and expenses, especiallyadvisory costs.There is no guarantee that activetrading of the shares will developonce they are approved and listed onthe regulated market or, if tradingdoes develop, there is no guaranteethat it will continue long-term.The Company cannot rule outadditional increases in capitalthrough the issuance of new sharesin the future in order to coverpotential capital needs. This maylead to dilution in the ownershipinterests of existing shareholders.Once the shares are trading on theregulated market, they may besubject to considerable fluctuation.An investment in shares entails riskto the investor's capital. If PEARLGOLD AG or Wassoul’Or S.A.becomes insolvent, a total loss ofinvested capital is possible.Section E – OfferE.1 Total net proceeds and estimated total Omitted. (No public offering of shares.)cost of the issue/offeringE.2a Reasons for the offering, purpose of the Omitted. (No public offering of shares.)proceeds, estimated net proceedsE.3 Terms of the offer. Omitted. (No public offering of shares.)E.4 Significant interests Omitted. (No public offering of shares.)E.5 Offerer of the securities/lock-up Omitted. (No public offering of shares.)agreementsE.6 Dilution of shareholders Omitted. (No public offering of shares.)E.7 Expenses charged to the investor by theissuer or offererOmitted. (No public offering of shares.)23
Page 2 and 3: Prospectusof 14 September 2012for a
Page 6: BOARD OF MANAGEMENT 116SUPERVISORY
Page 9 and 10: extractable gold cannot appreciably
Page 11 and 12: following financial statements of P
Page 13 and 14: Mansa Moussa was issued 9,750,000 n
Page 15 and 16: financing 736.9 378.4Cash flow from
Page 17 and 18: auditors have pointed out that PEAR
Page 19 and 20: In summary, these are:Market-relate
Page 24 and 25: RISK FACTORSInterested persons shou
Page 26 and 27: weakening of consumer sentiment, ri
Page 28 and 29: The Company’s stated mineral rese
Page 30 and 31: Risks relating to the electrical po
Page 32 and 33: Wassoul’Or’s mining, processing
Page 34 and 35: levels and adverse publicity and/or
Page 36 and 37: This risk could have an adverse eff
Page 38 and 39: Emerging markets, such as Mali, in
Page 40 and 41: access to the capital markets and t
Page 42 and 43: investor assessments and changes in
Page 44 and 45: Activity”, “Operating and Finan
Page 46 and 47: percentages used in the text do not
Page 48 and 49: Currency data in US dollars is iden
Page 50 and 51: FORM AND SECURITISATION OF THE SHAR
Page 52 and 53: Deutsche Börse AG publishes order
Page 54 and 55: OPERATING AND FINANCIAL REVIEW (OFR
Page 56 and 57: These differing valuation bases lea
Page 58 and 59: PEARL GOLD AG Earnings Performance
Page 60 and 61: PEARL GOLD AG TOTAL ASSET PERFORMAN
Page 62 and 63: Total Assets Performance for the Fi
Page 64 and 65: the Wassoul’Or shares ceded and t
Page 66 and 67: The following is an explanatory ove
Page 68 and 69: eservesof which netaccumulated loss
Page 70 and 71: audited< 1 year 257.21 to 5 years 5
Page 72 and 73:
MARKET ENVIRONMENT AND COMPETITIONT
Page 74 and 75:
750 75.0% 18585 58.5% 14416 41.6% 1
Page 76 and 77:
will be profitable. The fact that t
Page 78 and 79:
Cyanide leaching;Chlorine gas refin
Page 80 and 81:
Iamgold Corporation (Canada). These
Page 82 and 83:
PEARL GOLD AG is a German share Cor
Page 84 and 85:
MATERIAL AGREEMENTSThe Company is a
Page 86 and 87:
BUSINESS OF WASSOUL'OR S.A.OVERVIEW
Page 88 and 89:
This share capital is divided into
Page 90 and 91:
Members nominated by PEARL GOLD AG:
Page 92 and 93:
analyses and reports, etc.) during
Page 94 and 95:
Founder and principal owner of the
Page 96 and 97:
the Kalana gold mine. With SODINAF
Page 98 and 99:
Agreements entered into between Was
Page 100 and 101:
ASSET TRANSFERArt. 25 of the "Conve
Page 102 and 103:
GENERAL INFORMATION ON PEARL GOLD A
Page 104 and 105:
"We note, without qualifying this a
Page 106 and 107:
share capital to EUR 10,250,000.00,
Page 108 and 109:
No authorisation has been granted t
Page 110 and 111:
The Board of Management is authoris
Page 112 and 113:
Under the German Stock Corporation
Page 114 and 115:
With the exception of the 3% thresh
Page 116 and 117:
Under German law, a shareholder gen
Page 118 and 119:
Joint areas of responsibility Corpo
Page 120 and 121:
In the current or the preceding fin
Page 122 and 123:
Current composition of the Supervis
Page 124 and 125:
KineticPartners(Switzerland) SA,Man
Page 126 and 127:
strategic and economic advisor for
Page 128 and 129:
SHAREHOLDERS MEETINGThe Shareholder
Page 130 and 131:
Upon the listing on a stock exchang
Page 132 and 133:
The Company entered into a loan agr
Page 134 and 135:
MAIN FEATURES OF TAXATION IN GERMAN
Page 136 and 137:
Exemption limit: The net interest e
Page 138 and 139:
under the law, at any point in time
Page 140 and 141:
(1) the foreign shareholder holds a
Page 142 and 143:
Taxation of non-resident taxpayersI
Page 144 and 145:
MAIN FEATURES OF TAXATION IN MALITh
Page 146 and 147:
Standards)ISINOHADA(IASB).Internati
Page 148 and 149:
Brecciated structuresCRMOreExplorat
Page 150 and 151:
TonneMetric tonTPSTroy ounceOunceCy
Page 152 and 153:
Table of ContentsPEARL GOLD AGPageS
Page 154 and 155:
(this page has been intentionally l
Page 156 and 157:
INCOME STATEMENT (IFRS)FOR THE PERI
Page 158 and 159:
BALANCE SHEET (IFRS)AS AT 31 DECEMB
Page 160 and 161:
STATEMENT OF CHANGES IN EQUITY (IFR
Page 162 and 163:
NOTES (IFRS)FOR THE PERIOD FROM 1 J
Page 164 and 165:
IFRIC 19 “Extinguishing Financial
Page 166 and 167:
IFRIC 20 “Stripping Costs in the
Page 168 and 169:
Deferred tax liabilitiesDeferred ta
Page 170 and 171:
The classification depends on the n
Page 172 and 173:
3 SEGMENT REPORTINGIn connection wi
Page 174 and 175:
Under current laws, dividend income
Page 176 and 177:
Gold depositsThe amount and quality
Page 178 and 179:
14 SUBSCRIBED CAPITALAS AT 31 DECEM
Page 180 and 181:
15 CAPITAL RESERVESAS AT 31 DECEMBE
Page 182 and 183:
19 OTHER PROVISIONSAS AT 31 DECEMBE
Page 184 and 185:
22 RECONCILIATION OF EQUITY AND TOT
Page 186 and 187:
24 OTHER FINANCIAL OBLIGATIONSAS AT
Page 188 and 189:
The maximum risk exposure of financ
Page 190 and 191:
27 EARNINGS PER COMMON SHARE (IFRS)
Page 192 and 193:
Alexandre Davidoff, Attorney, Marti
Page 194 and 195:
In our opinion, based on the findin
Page 196 and 197:
BALANCE SHEETPEARL GOLD AGFrankfurt
Page 198 and 199:
NOTES for the period ending 31 Dece
Page 200 and 201:
NOTES for the period ending 31 Dece
Page 202 and 203:
StructurePEARL GOLD AG, FRANKFURT A
Page 204 and 205:
The company's liquidity is ensured
Page 206 and 207:
The participation of more than 4,00
Page 208 and 209:
A tense political situation could a
Page 210 and 211:
Frankfurt am Main, 11 July 2012Wart
Page 212 and 213:
Page 214 and 215:
INCOME STATEMENT from 01/01/2010 to
Page 216 and 217:
Disclosures and explanations for ba
Page 218 and 219:
Disclosures regarding shareholdings
Page 220 and 221:
Frankfurt am Main, 11 July 2012Wart
Page 222 and 223:
Page 224 and 225:
1. General disclosuresNOTES as at 3
Page 226 and 227:
NOTES as at 31 December 2009PEARL G
Page 228 and 229:
SUPPLEMENTAL COMPONENTS OF THEANNUA
Page 230 and 231:
STATEMENT OF CHANGES IN EQUITY FOR
Page 232 and 233:
Our review did not reveal any facts
Page 234 and 235:
BALANCE SHEETIn CFA francs Notes 31
Page 236 and 237:
Statement of comprehensive incomeIn
Page 238 and 239:
Statement of changes in equityIn CF
Page 240 and 241:
1. GENERAL INFORMATIONThe IFRS sepa
Page 242 and 243:
• Mr Mamadou Lamine Ballo; reside
Page 244 and 245:
- First-time mandatory application
Page 246 and 247:
If no useful deposits are found, ex
Page 248 and 249:
2.13 Receivables and liabilitiesRec
Page 250 and 251:
Any incidental income generated dur
Page 252 and 253:
Depreciation is performed using the
Page 254 and 255:
4.14 LoansLoan of CFAF 700,000,000
Page 256 and 257:
4.19 Personnel expensesThese are co
Page 258 and 259:
EFFECTS OF FIRST-TIME ADOPTION OF I
Page 260 and 261:
The financial instruments in the fo
Page 262 and 263:
Auditor's Report for Wassoul'Or S.A
Page 264 and 265:
TABLE OF CONTENTSPageEXPERTS REPORT
Page 266 and 267:
Cyanidation Tests on Grounded Sampl
Page 268 and 269:
APPENDICESAPPENDIX 1APPENDIX 2APPEN
Page 270 and 271:
Pierre C. LabrèqueProjectWassoul
Page 272 and 273:
Page 274 and 275:
Page 276 and 277:
Independent Technical and Economic
Page 278 and 279:
Page 280 and 281:
Page 282 and 283:
Page 284 and 285:
Page 286 and 287:
Page 288 and 289:
Independent Technical and-Economic
Page 290 and 291:
Dated this 24 th day of February 20
Page 292 and 293:
Page 294 and 295:
Page 296 and 297:
Page 298 and 299:
Page 300 and 301:
Page 302 and 303:
Page 304 and 305:
Page 306 and 307:
Page 308 and 309:
Page 310 and 311:
Page 312 and 313:
Page 314 and 315:
Page 316 and 317:
Page 318 and 319:
Page 320 and 321:
Page 322 and 323:
Page 324 and 325:
Page 326 and 327:
Page 328 and 329:
Page 330 and 331:
Page 332 and 333:
Page 334 and 335:
Page 336 and 337:
Page 338 and 339:
Page 340 and 341:
Page 342 and 343:
Page 344 and 345:
Page 346 and 347:
Page 348 and 349:
Page 350 and 351:
Page 352 and 353:
Page 354 and 355:
Page 356 and 357:
Page 358 and 359:
Page 360 and 361:
Page 362 and 363:
Page 364 and 365:
Page 366 and 367:
Page 368 and 369:
Page 370 and 371:
Page 372 and 373:
Page 374 and 375:
Page 376 and 377:
Page 378 and 379:
Page 380 and 381:
Page 382 and 383:
Page 384 and 385:
Page 386 and 387:
Page 388 and 389:
Page 390 and 391:
Page 392 and 393:
Page 394 and 395:
Page 396 and 397:
Page 398 and 399:
Page 400 and 401:
Page 402 and 403:
Page 404 and 405:
Page 406 and 407:
Page 408 and 409:
Page 410 and 411:
Page 412 and 413:
Page 414 and 415:
APPENDIX 1Legal Act by Dramane Demb
Page 416 and 417:
Strickly Confidential Disclosure Re
Page 418 and 419:
Strickly Confidential Disclosure Re
Page 420 and 421:
APPENDIX 2Results of Met Solve Labo
Page 422 and 423:
GRAVITY CONCENTRATION TEST REPORTCl
Page 424 and 425:
SIZE-BY-SIZE HEAD ASSAYClient: Bumi
Page 426 and 427:
SIZE-BY-SIZE HEAD ASSAYClient: Bumi
Page 428 and 429:
Quote: T0500 - Wassalour-IL-091019W
Page 430 and 431:
Document Number: T0500 Status: Fina
Page 432 and 433:
Page 434 and 435:
Page 436 and 437:
Page 438 and 439:
Page 440 and 441:
Page 442 and 443:
Page 444 and 445:
Page 446 and 447:
Page 448 and 449:
Page 450:
APPENDIX 5Revised Environmental Per
Page 453 and 454:
Table de matières1.0 Contexte et j
Page 455 and 456:
Notice d’impact Environnemental &
Page 457 and 458:
Page 459 and 460:
Page 461 and 462:
Page 463 and 464:
Page 465 and 466:
Page 467 and 468:
Page 469:
Page 472:
1 234 56 7 8AAB1750180010°175010°
Page 475:
APPENDIX 6Sensitivity AnalysisSprea
Page 485:
PEARL GOLD AGFrankfurt am Mainsigne
show all

Securities prospectus - Pearl Gold AG

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?