Jakarta (Antara) — Republic of Guinea has got into a collaborative agreement with UK-based Linetrust International Offshore Limited who has agreed to invest a total of USD 50 millions in a phased manner to further explore gold deposits in the Republic of Guinea.
Mr.Bhavesh Purohit, Managing Director, VIDHIXA, a pioneer in mining of gold deposits in Guinea, has been ecstatic on the new development and feels it could help turn the commodities market scenario. Speaking at a function to facilitate the engagement, Mr.Timothy Clark, Director, Linetrust said, “With the prevailing global uncertainties, the previous metal seems to be the last hope for long term investors. Hence, Linetrust has been on the scout for the right project involving exploration of new deposits across the globe.
Mr.Bhavesh Purohit, with his vast experience and tremendous knowledge of the local terrain has been all pervading and his sharp knowledge of metals will help Linetrust in its endeavor to bolster its top and bottom line and entering the precious metals exploration business. This endeavor would help the impoverished developing economies and also help the Indian and the ASEAN Countries to manage their Current Account Deficits. With the four fastest growing economies in the BRIC (Brazil, Russia, India and China) either dependent on oil or commodities to bolster trade, Gold will be the ideal cushion to cover the risks associated with the volatility in International trade.” The current financing arrangement will help the company to grow at an EBIDTA Margin of over 27% for FY 2018-19.
Mr.Bhavesh Purohit, Managing Director, Vidhixa said, “We are thankful to Linetrust for placing the faith in our abilities to unearth precious metals and help synergize a path of growth providing a win-win situation for both Linetrust and Vidhixa. It’s going to be a symbiotic association aimed at knowledge and exponential growth. Vidhixa plans to import gold into India as India is one of the largest consumers of gold and this association will help us turn in better numbers in the coming quarters.“
Linetrust International has built its footprints in the commodities market from the early sixties where it rode the tide in the Copper prices. Mr.Manoj Todi, shareholder and spokesperson for Linetrust says, “It’s our endeavor to provide opportunities to unearth newer sources of the precious metals. We have always supported any initiative aimed at the commodities market. Our singular objective is to fuel growth.”
Article source: http://www.antaranews.com/en/news/108898/linetrust-invests-us-50-million-in-gold-exploration-in-republic-of-guinea