BSGR Response to Press Speculation

ST. PETER PORT, Guernsey, May 9, 2013 /PRNewswire/ --

Further to recent media speculation, the Board of BSGR wishes to clarify its position in relation to recent events, in light of commentary, driven largely by both official and unofficial representatives of the Government of Guinea, and organisations involved with it.

BSGR has always, and will continue to act to the highest standards of Corporate Governance in all 12 countries in which it operates.  In all of these countries BSGR operates in a fully transparent manner, working in partnership with host governments at both national and local level.  Good governance is intrinsic to its Group mission of balancing business success with its responsibilities to the communities in which it operates and the environment that supports them.

BSGR is confident that its activities and position in Guinea will be fully vindicated.

Allegations that there was anything improper about the manner in which BSGR obtained its mining rights in Guinea are entirely baseless and motivated by an ongoing campaign to seize the assets of BSGR.  

The granting of exploration permits to BSGR by the Government of Guinea ("GoG") in February 2006 was conducted in a fully transparent manner, and as part of a competitive process during which BSGR had to consistently prove that it had the technical and financial capability to carry out exploration, feasibility studies and project development.  Having further demonstrated to the GoG that BSGR operated across Africa to the highest international standards, it was awarded its permits because it was prepared to act decisively and take quick decisions. Unlike most major mining companies, BSGR did not view Simandou as a strategic asset to be used to increase the value of its reserves.

A detailed account of BSGR's activity in Guinea can be found on their website:    http://www.bsgresources.com/media

Contact details
Powerscourt  +44(0)-20-7250-1446
Rory Godson / Ian Middleton / Conal Walsh
bsg@powerscourt-group.com

SOURCE BSG Resources