Last checked at 26 Nov 2009 07:00
26 November 2009 Kryso Resources plc (`Kryso' or `the Company') Change of Nominated Adviser and Broker
Kryso Resources plc (AIM: KYS), the gold exploration and development company that is advancing its Pakrut gold project in Tajikistan through a bankable feasibility study (BFS), is pleased to announce the appointment of WH Ireland Limited as Nominated Adviser and Co-Broker to the Company with immediate effect.
Representatives of WH Ireland Limited completed a successful visit to Tajikistan and the Pakrut project in late October.
Trevor Davenport, Non-Executive Chairman and acting Managing Director of Kryso, comments:
`WH Ireland Group plc, which is listed on AIM, is one of the best known independent broking houses in the UK, and will play a key role in putting Kryso on the best possible financial footing as it continues to develop the Pakrut gold project towards production.'
About the Pakrut Gold Project
The Pakrut gold project, of which Kryso has 100% ownership, is situated in Tajikistan approximately 112 km northeast of the capital city Dushanbe.
Pakrut has total JORC Code-compliant gold resources of 2,830,104 oz Au (assuming a cut-off grade of 0.5g/t Au) and is located within the Tien Shan gold belt, which extends from Uzbekistan into Tajikistan, Kyrgyzstan and western China, and which hosts a number of multi-million ounce gold deposits.
Drilling at Pakrut has previously returned numerous exciting intersections, including 123.7m at 6.14g/t Au, 42m at 11.17g/t Au and 50m at 5.67g/t Au.
A bankable feasibility study for the Pakrut project is currently being undertaken by the Beijing General Research Institute of Mining & Metallurgy. The bankable feasibility study is targeted for completion before the end of 2009.
An internal prefeasibility study completed in 2008 envisaged a mining operation at Pakrut producing in excess of 100,000oz Au per annum with cash costs of approximately US$300/oz Au.
About Tajikistan
Tajikistan is a secular republic located in Central Asia. The country is a member of the Commonwealth of Independent States (CIS) and the Shanghai Cooperation Organisation. Tajikistan hosts numerous operating precious metal mines as well as the largest aluminium smelter in Central Asia. Kryso's management team has extensive experience in the mining industry in Tajikistan.
For further information please contact:
Dr. Trevor Davenport/Craig Brown, Kryso Resources plc
Tel: +44 (0) 20 7371 0600
Katy Mitchell, WH Ireland Limited
Tel: +44 (0) 161 832 2174
Christian Dennis, Orbis Equity Partners Limited
Tel: +44 (0) 20 3137 1902
Jason Bahnsen, Fox-Davies Capital Limited
Tel: +44 (0) 20 7936 5200
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