3 May 2018 07:00
3 May 2018
Origo Partners plc
Moly World Asset Impairment
Origo Partners' Advisors has informed the Board of Directors of Origo Partners Plc ("Origo") that the Mongol Resource Corporation ("MRC"), a subsidiary of its investee company Moly World, has received a notification from the Mineral Resource Authority for Mongolia purporting to cancel the mining license issued to MRC nine months ago. Moly World is retaining counsel to protect its rights with respect to the mining license. Origo's board believes that this governmental action has impaired the value of its investment in Moly World, which on Origo's most recently published balance sheet was carried at US$3.87 million. Further announcements will be made in due course.
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For further information about Origo please visit www.origoplc.com or contact:
Origo Partners plc John Chapman Chairman | IOMA House Hope Street Douglas Isle of Man IM1 1AP |
Nominated Adviser and Broker Arden Partners plc Chris Hardie Ben Cryer | +44 (0)20 7614 5900 |
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