Gold exploration company Celtic Resources plans to spin off its precious and specialty metals exploration assets to form two new companies, Anglo Asian Oil and a new Kazakhstan mining company.
Celtic owns three gold mines in Kazakhstan and Russia and controls resources containing over 30 million ounces of gold. Celtic wants to focus on developing these gold resources and becoming a major gold producer.
Celtic, which is listed on the London Stock Exchange, will be a majority shareholder in the two new companies, which it is hoped will be quoted on Lonson's Alternative Investment market for small-cap companies.
