Orogen Gold issues 36.4m shares to DEM for drilling services

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.