3 Dec 2021 07:00
3 December 2021
Origo Partners Plc ("Origo")
Investment Update - Auction of Shareholding in Moly World Ltd
Origo hereby announces that it is putting up for auction its entire interest in Moly World Ltd ("Moly World"). Moly World is an unlisted BVI company that owns rights to mine molybdenum in Mongolia. Origo owns 20 per cent of Moly World's equity and has contractual rights to a board seat as well as other rights. According to the Company's former board's 2016 Annual Report:
"Moly World is the owner of an advanced stage molybdenum exploration project in Mongolia, known locally as Mandal Moly, which covers an area of 2,360 hectares approximately 40 kilometres north of Tsagaan-Uul Soum, Khuvsgul Province, in northern Mongolia. The project has a JORC near surface compliant resource of 256,000 tons at 0.126% Mo."
The Company has subsequently disclosed further information regarding its investment in Moly World, in particular, in annual and interim reports. Prospective bidders are directed to those reports. For additional information, prospective bidders may also contact Mr. Philip Scales at: pscales@fim.co.im. Upon signing a nondisclosure agreement, prospective bidders will be given access to Origo's materials concerning Moly World. Origo's interest in Moly World is being sold without any representations or warranties. Bids will be accepted until 5 January 2022.
Ends
For further information about Origo please visit www.origopartners.com or contact:
Origo Partners plc John Chapman Chairman | 55 Athol Street Douglas Isle of Man IM1 1LA |
Nominated Adviser and Broker Arden Partners plc Richard Johnson
| +44 (0)20 7614 5900 |
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.