Last checked at 10 Sep 2008 07:00
10 September 2008 Kryso Resources plc (`Kryso' or `the Company') AIM: KYS Issue of Incentive Options Over Unissued Ordinary Shares
Kryso Resources PLC announces that its Remuneration Committee awards an additional 4,200,000 options to the directors to purchase new ordinary shares of 1 pence at an exercise price of 10 pence per share in the capital of the Company.
The options have been awarded as at 10 September 2008 and have been issued to incentivise and retain key management and directors at this time of severe global skills shortages throughout the mining industry.
The Options are granted in accordance with the rules of The Kryso Resources PLC Unapproved Share Option Scheme, and may be exercised after twelve months, and expire after four years.
The Directors' total holding of options are now as follows:
Exercise Price Options
Dr. Trevor Davenport 10p 650,000
Dr. Trevor Davenport 15p 200,000
Ferdinand Dippenaar 13p 400,000
Ferdinand Dippenaar 10p 600,000
Andrew Malim 13.5p 400,000
Andrew Malim 10p 600,000Vassilios Carellas 10p 900,000Vassilios Carellas 15p 200,000Craig Brown 10p 900,000Craig Brown 15p 200,000Abuali Ismatov 10p 900,000Abuali Ismatov 15p 200,000
For further information, please contact:
Vassilios Carellas/Craig Brown, Kryso Resources plc.
Tel: 020 7371 0600
Brett Miller/Roxane Marffy, Ruegg & Co Ltd.
Tel: 020 7584 3663
Richard Hail, Fox-Davies Capital Limited
Tel: 020 7936 5200
Christian Dennis, Orbis Equity Partners Limited
Tel: 01359 239 029
Background Information on Kryso Resources plc
Kryso Resources controls 100% of the exploration rights to the Pakrut gold project, which lies within the highly prospective Tien-Shan gold belt. Kryso also controls 100% of the exploration rights to the Hukas nickel-copper project.
The Company is managed by a team with a proven track record of operating in Tajikistan, which it considers to be among the most attractive operating environments in Central Asia.
The main deposit at Pakrut currently has a JORC-compliant resource in excess of one million seven hundred thousand ounces of gold and the Company aims to increase this resource with a further. Drilling at Pakrut continues to return exciting intersections, including 123.7m @ 6.14g/t, 42m @ 11.17g/t and 50m @ 5.67g/t Au.
The Company envisages annual production for 2010 of 100,000 oz per annum from a combined open pit and underground mine.
A geophysical survey over a large section of the Hukas nickel-copper project has been completed, and a drill programme is currently underway.
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