Last checked at 16 Jun 2016 11:00
Orogen Gold Plc
("Orogen Gold", "Orogen" or "the Company")
Further re: Mutsk MOU and JV
Pursuant to Schedule 4e of the AIM Rules and further to the announcements made on 22 January 2013 and 3 March 2014 the Company provides the following additional disclosure in relation to the terms of the memorandum of understanding and joint venture agreement entered into with Georaid, which was inadvertently omitted from the original announcements and has been published on the Company's website since the date of those announcements.
"If a positive bankable feasibility study is obtained on the Mutsk gold project, then Orogen will issue further Ordinary Shares in the Company to the Georaid principals to the value of US$300,000."
For the avoidance of doubt the US$300,000 share based payment is contingent on the Company (1) exercising its option to acquire an 80% interest in the project; (2) the project partners undertaking further substantial exploration work on the project and (3) a feasibility study being commissioned which is both positive in its outcome and bankable.
Orogen Gold plc Alan Mooney, Finance Director Ed Slowey, Operations Director | +353 1662 8395 |
Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray | +44 (0) 20 7148 7900 |
Beaufort Securities Limited (Broker) Jon Belliss | +44 (0) 20 7382 8300 |
Walbrook (Public Relations and Investor Relations) Paul Cornelius / Gary Middleton | +44 (0) 20 7933 8780 |