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Orogen Gold issues 36.4m shares to DEM for drilling services

Fri, 27th Mar 2015 09:28

Gold explorer Orogen Gold has issued 36.4m shares to DEM Geosciences SAL to cover costs related to diamond drilling services the latter carried out in 2014.The London-listed group said each share was priced at 0.2p, giving the transaction a total value of £72,800 and confirmed the deal was the final share issue it will make towards the payment.In a statement released on Friday, the mining group added that DEM will not dispose of any of the new shares for a two-year period after committing to a lock-in agreement.Orogen shares were up 5% to 0.063p at 09:39 on Friday.
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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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