Last checked at 29 Dec 2017 08:30
Georgian Mining Corporation / EPIC: GEO / Sector: Natural Resources
29 December 2017
Georgian Mining Corporation ('GEO' or the 'Company')
Corporate Update
Georgian Mining Corporation announces that it is in the final stages of negotiation with Caucasian Mining Group, its 50% partner in Georgian Copper & Gold JSC ('GCG'), in relation to the 2018 exploration and development programme within the 860 sq km licence on the Tethyan Belt in Georgia.
The negiotiations have been expanded over the past weeks to include a comprehensive business plan, work programmes, the strengthening of the board of GCG as well as the framework agreement to develop and exploit the gold oxide production target at Kvemo Bolnisi East.
It is expected that the final agreements will be completed in early 2018 and a detailed announcement will follow.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
For further information please visit www.georgianmining.com or contact:
Greg Kuenzel | Georgian Mining Corporation | Company | Tel: 020 7907 9327 |
Ewan Leggat | S. P. Angel Corporate Finance LLP | Nomad & Broker | Tel: 020 3470 0470 |
Soltan Tagiev | S. P. Angel Corporate Finance LLP | Nomad & Broker | Tel: 020 3470 0470 |
Damon Heath | Shard Capital Partners LLP | Joint Broker | Tel: 0207 186 9950 |
Frank Buhagiar | St Brides Partners Ltd | PR | Tel: 020 7236 1177 |
Susie Geliher | St Brides Partners Ltd | PR | Tel: 020 7236 1177 |