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Orogen confirms it now holds 80% of Georaid

Fri, 28th Oct 2016 10:45

(ShareCast News) - Gold exploration company Orogen Gold announced on Friday that it has now received its shares in Georaid CJSC following successful completion of the $2.5m earn-in as announced on 31 August.The AIM-traded firm now has an 80% interest in Georaid, which holds the exploration licence covering the Mutsk gold project in southern Armenia."As announced on 18 October, Orogen has commenced step-out drilling at the Mutsk property to help define the scale of the gold envelope," its board said in a statement."Work is progressing satisfactorily and the company looks forward to reporting the results of this work to shareholders in the coming weeks."
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27 Mar 2012 09:12

Resource stocks round-up: Faroe, Edenville, Jubilee ...

Faroe Patroleum hailed a 'truly exceptional year' for the company as it charged back into the black with pre-tax profits of £14.3m. This was a dramatic improvement on the £26m loss the year before. The company put the result down to a dramatic boost to production, proven reserves and cash flow, toge

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27 Feb 2012 15:44

Small caps round-up: Orogen, Providence, President

Orogen Gold, a Europe-focused miner, has said it has re-established access to its mine sites after a temporary cut-off was caused by extreme weather. The firm admitted that the exceptionally severe winter weather conditions in Serbia have had a slight impact on the timing of completion of the underg

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3 Oct 2011 08:31

Orogen delighted with Siberian soil samples

A massive soil sampling exercise at recently reopened mines owned by Orogen Gold has identified several gold anomalies that are worthy of further investigation. Access to the two Deli Jovan shallow underground mines in eastern Siberia is improving, and extraction of water continues to expose deeper

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15 Aug 2011 12:21

London midday: FTSE 100 stable after calm start

Shares are holding onto their gains today amid much calmer trading than the volatility seen last week. In company news, international recruitment firm Michael Page is sharply lower. It made a flying start to 2011 but said profit growth in the banking sector has tailed off in the second half of the

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15 Aug 2011 08:44

Orogen upbeat despite further losses

Europe-focused miner, Orogen Gold, widened its losses in the first half of 2011, dropping £554,000 into the red. This compared with a loss of £435,000 in the first half of last year for the firm formerly known as Medavinci, which was relaunched in March. However, the company is positive about its

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