Business
ASGARD METALS FUND: INVESTMENT IN PALLAS RESOURCES
ASGARD METALS FUND: INVESTMENT IN PALLAS RESOURCES.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8039T\n Ariana Resources PLC\n 29 November 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 29 November 2021\n \n \n AIM: AAU\n \n \n \n \n \n Click on, or paste the following link into your web browser, to view the associated PDF document, including all figures\n \n \n \n \n http://www.rns-pdf.londonstockexchange.com/rns/8039T_1-2021-11-28.pdf\n \n \n \n \n ASGARD METALS FUND: INVESTMENT IN PALLAS RESOURCES\n \n \n \n \n \n Ariana Resources plc (\"Ariana\" or \"the Company\"), \n the AIM-listed mineral exploration and development company with joint-venture gold mining operations in Europe\n , is pleased to announce the second investment of the Asgard Metals Fund (\"the Fund\" and a wholly owned subsidiary of Ariana), which is being developed as part of its proprietary Project Catalyst Strategy. \n \n \n \n \n \n Highlights: \n \n \n \n \n \n · \n Asgard Metals Fund (\"Asgard\") to take an interest in Pallas Resources Limited (\"Pallas\"), a UK company with several large copper and gold licences in highly prolific mineral belts of Kazakhstan.\n \n \n \n \n \n · \n Up to 1.25 million shares in Pallas to be issued to Asgard following a strategic investment (equivalent to £200,000) and as specified within a Consultancy Agreement (up to an equivalent of £75,000).\n \n \n \n \n \n · \n Under the Consultancy Agreement, the Ariana team will provide technical consulting services to Pallas' exploration efforts in Kazakhstan over a two-year period.\n \n \n \n \n \n Dr. Kerim Sener, Managing Director, Ariana Resources, commented:\n \n \n \n \n \n \"Over the past decade, we have reviewed a number of Central Asian exploration opportunities. But most importantly we wanted to work in parallel with a first-class team and in Pallas we have found our match. Kazakhstan represents a jurisdiction which satisfies our criteria and one which has the distinct advantage of having implemented a new mining law modelled on that for Western Australia; a legislation with which we are very comfortable. Another advantage is our familiarity with the language, which will become even more straightforward for our Turkish team following the implementation of Latin script for Kazakh by 2025.\n \n \n \n \...