Georgian Mining Corporation Minister Endorses Exploration Permit (3444D)
October 09 2018 - 2:00AM
UK Regulatory
TIDMGEO
RNS Number : 3444D
Georgian Mining Corporation
09 October 2018
Georgian Mining Corporation / EPIC: GEO / Sector: Natural
Resources
9(th) October 2018
Georgian Mining Corporation
('GEO' or the 'Company')
Minister Endorses Exploration Permit - One Step Remains
Georgian Mining Corporation is pleased to announce that the
award of the pending exploration permit has taken a major step
forwards with the endorsement of the application by Mr. George
Kobulia, the Minister of Economy and Sustainable Development in
Georgia. The final step, the Government Resolution, has now been
submitted by the Mining Agency.
Mike Struthers, Chief Executive Officer said:
"Following my meeting with Mr. Kobulia on Friday 21(st)
September, he has held further internal meetings and I'm very
pleased to report that the Minister has now endorsed our
application. This allows the Mining Agency to finalise the
Government Resolution, which was done and submitted on Monday 8(th)
October. This Resolution goes to other ministries such as Finance
and Environment and takes only a few weeks to complete.
"It's been a longer process than anticipated, for reasons I've
explained previously. I'm grateful to our employees for their
diligence during this period and to our shareholders for their
patience. Our team in Georgia are poised to re-start physical
fieldwork, and I'm confident once the drilling starts we'll be
generating interesting results very soon."
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:
Mike Struthers Georgian Mining Corporation Company Tel: 020 7907
9327
Ewan Leggat S. P. Angel Corporate Nomad & Broker Tel: 020 3470
Finance LLP 0470
Soltan Tagiev S. P. Angel Corporate Nomad & Broker Tel: 020 3470
Finance LLP 0470
Damon Heath Shard Capital Partners Joint Broker Tel: 020 7186
LLP 9950
Camilla Horsfall Blytheweigh PR Tel: 020 7138
3224
Julia Tilley Blytheweigh PR Tel: 020 7138
3553
Simon Woods Blytheweigh PR Tel: 020 7138
3204
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 concession covers an area of over 860 sq km and has a
30-year mining licence with a variety of targets and projects
ranging from greenfield exploration / target definition phase
through intermediate target-testing phases to more advanced
projects including Kvemo Bolnisi East which will advance to
Feasibility Study in 2018. These projects are proximal to existing
mining operations owned by the Company's joint venture partner, and
their sister production company. Georgia has an established mining
code and is a jurisdiction open to foreign direct investment.
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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