17 Aug 2017 15:18
17 August 2017
Origo Partners plc
("Origo" or the "Company")
Moly World Receives Mining Licence
Origo is pleased to announce that its portfolio company Moly World Ltd ("Moly World") has been awarded a 30 year mining licence for its Mandal Project in Mongolia by the Mineral Resources Authority of Mongolia.
The Mandal Project holds a large JORC resource of 203Mt in situ material at 0.126 per cent. Molybdenum and 0.026 per cent Tungsten. The resource covers a lateral area of approximately 900m and vertical extent of 500m from surface. Origo holds a 20 per cent. stake in Moly World which owns 100 per cent. of the Mandal Project through its subsidiary Mandal Moly. In addition, a subsidiary of Origo has an off-take agreement covering up to 20 per cent of all production from Mandal Moly while Origo holds an interest of between 5 and 20 per cent. in Moly World.
For further information about Origo please visit www.origoplc.com or contact:
Origo Partners plc Niklas Ponnert |
niklas@origoplc.com |
Nominated Adviser and Broker Smith & Williamson Corporate Finance Limited Azhic Basirov Ben Jeynes |
+44 (0)20 7131 4000 |
Public Relations Aura Financial Andy Mills |
+44 (0)20 7321 0000 |
Certain of the information contained in this announcement is deemed to constitute inside information for the purposes of article 7 of Regulation (EU) 596/2014.