LionGold Corp. Ltd. provided earnings guidance for the first quarter ended June 30, 2012. For the period, the company expects to report loss before tax.

Based on a preliminary review of the Group's performance, the loss is mainly attributable to unrealised losses on foreign exchange when translating the foreign denominated assets of the gold mining division owing to the depreciation of Ghanaian New Cedi against the USD, professional fees and expenses incurred for corporate exercises and the writing-off of advances extend to African Stellar (West Africa) Limited.