Business
First Day of Dealings on AIM
First Day of Dealings on AIM.
About this update from Empire Metals Limited
[{"type":"text","content":"\n RNS Number : 1390Y Noricum Gold Limited 17 December 2010 \n \n\nNoricum Gold Limited / EPIC: NMG / Sector: Natural Resources\n17 December 2010\nNoricum Gold Limited ('Noricum Gold' or 'the Company')\nFirst Day of Dealings on AIM\n \nNoricum Gold Limited, established to make strategic investments primarily in gold and gold related entities, is listing on AIM today. The Company has raised £2,120,000 by way of a placing of 52,899,478 shares at 4p per share ('the Placing'), giving it a market capitalisation of approximately £20 million on Admission. The money raised will be used to fund the first stage of exploration at its primary asset, the Rotgülden gold project, and for general working capital and administration costs.\n \nOverview\n \n· Listing on AIM with a market cap of £19,899,366;\n· 518 exploration licences ('the Licences') covering 171km2 highly prospective ground in south-central Austria;\n· Initial focus on the Company's flagship Rotgülden gold project ('the Project') comprised of 269 licences including the previously operating gold/copper/silver Rotgülden mine;\n· Additional excellent value uplift potential from silver and base metal credits;\n· Further 249 exploration licences across the region including Kleining Project which SRK Exploration Services Limited ('SRK Exploration') has identified as having excellent infrastructure and good access;\n· Austria is a historic high grade gold region which offers stable and pro-mining operating environment and established infrastructure;\n· Strategy focussed on Rotgülden in an effort to support a detailed feasibility study towards mine development and production;\n· Strong consolidation opportunities along a 7km strike with potential for similar sized ore bodies located in the region which could be combined towards a larger economic target; and\n· Experienced management, as set out in the Further Information, and technical teams in place working on new models based on historical figures.\n \nNoricum Gold CEO Greg Kuenzel said, \"We have what we believe to be a very exciting gold exploration asset with historical production at Rotgülden, located in a politically stable and minin...