Business
Appointment of Adviser & Company Update
Appointment of Adviser & Company Update.
About this update from Empire Metals Limited
[{"type":"text","content":"\n \nRNS Number : 6671S Georgian Mining Corporation 27 June 2018 \n\nGeorgian Mining Corporation / EPIC: GEO / Sector: Natural Resources\n27th June 2018\nGeorgian Mining Corporation ('GEO' or the 'Company')\nAppointment of Adviser and Update on Georgian Assets\nGeorgian Mining Corporation, the gold-copper exploration and development company, announces an update on the Company's operations at its joint venture project in Georgia. \nAppointment of Hannam & Partners\nThe Company has recently received a number of approaches from financial and strategic investors looking to make a potential significant investment. At the same time, GEO is reviewing opportunities presented within the Tethyan Belt, focused on regions close to its existing licence portfolio. As a result GEO is pleased to announce it has appointed Hannam & Partners as its financial advisers with a focus on these strategic opportunities and M&A.\nHannam & Partners is a prominent boutique investment bank headquartered in London. The firm offers specialist advice to public and private corporations, financial investors and sovereign entities. The core sector focus are metals and mining, energy and financial services. \nExploration Permit Extension\nThe Company is also pleased to announce that it has recently concluded a negotiation process with the Mining Agency in Georgia to extend the exploration permits for the various deposits and the wider licence area, and the final application has been agreed. The Company's JV vehicle, Georgian Copper & Gold, holds a 30-year mining licence for the extraction of minerals (expiring 13 October 2041). Within this overall licence exists a requirement for separate staged permits for continued exploration at named deposits and within the wider licence area. The final stage is the submission and approval of a Government Resolution which formally approves the application. The recent unexpected resignation of the Prime Minister and the cabinet on 13th June 2018 is delaying this process, but on 20th June an interim new Prime Minister and Cabinet was appointed. However, as agreed with the Mining Agency and our partner, the Joint Venture Company has temporarily suspended fieldwork until the Government Resolution is approved. We are actively looking at options to secure additional drilling capacity to...