Last checked at 21 Jul 2017 17:06
Georgian Mining Corporation / EPIC: GEO / Sector: Natural Resources
21 July 2017
Georgian Mining Corporation
Result of AGM
Georgian Mining Corporation ('GEO') is pleased to announce that all resolutions were duly passed at the Annual General Meeting of the Company today.
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 |
Damon Heath | Shard Capital Partners LLP | Joint Broker | Tel: 0207 186 9950 |
Frank Buhagiar | St Brides Partners Ltd | PR | Tel: 020 7236 1177 |
About Georgian Mining Corporation
Georgian Mining Corporation has 50% ownership and operational control of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines. The Bolnisi licence covers an area of over 860 sq km and has a 30-year mining licence with two advanced exploration projects; Kvemo Bolnisi and Tsitsel Sopeli. These projects are nearby existing mining operations owned by the Company's supportive joint venture partner. Georgia has an established mining code and is a jurisdiction open to direct foreign investment.
The Company is developing the project in three phases:
· Phase 1: H1 2017 target to delineate a minimum of 1-2 Mt to support initial spare capacity (now achieved and exceeded)
· Phase 2: 2017 target to delineate a 3-5 Mt resource of combined copper-gold sulphide and gold oxide mineralisation (on target)
· Phase 3: Long term target - to delineate a resource of 50Mt+