Business
Statement re Potential Transaction
Statement re Potential Transaction.
About this update from Focus Xplore Plc
[{"type":"text","content":"\n \nRNS Number : 3493Y Opera Investments plc 02 March 2017 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\n \nOpera Investments plc (\"Opera\")\nUpdate on Proposed Transaction by Opera to acquire the Imweru and Lubando Gold Projects from Kibo Mining plc (\"Kibo\")\n2 March 2017\nFurther to the announcements made by Kibo and Opera on 23 September and 2 December 2016, Opera and Kibo are pleased to announce the following update on the potential transaction by Opera to acquire the Imweru and Lubando Gold Projects from Kibo (\"the Proposed Transaction\"). Opera and Kibo are pleased to confirm that the transaction documentation in connection to the Proposed Transaction is nearing completion.\nResource Update on Imweru and Lubando Gold Projects\nAs part of the Proposed Transaction, under applicable regulation and commercial requirements, Opera has commissioned an appropriately qualified expert, Minxcon (Pty) Ltd, to undertake a Competent Person's Report, an evaluation of the geological assets to be acquired from Kibo by Opera. As part of this review, the directors of Opera and Kibo have received an update to the resources of Imweru and Lubando Gold Projects.\nThe updated resources are as follows:\n\n\n\n\n \n\n\nMeasured \n\n\nIndicated \n\n\nInferred \n\n\nTotal \n\n\n\n\nImweru\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nTonnes (millions)\n\n\n-\n\n\n2.367\n\n\n9.240\n\n\n \n\n\n\n\nGrade (g/t)\n\n\n-\n\n\n1.19\n\n\n1.43\n\n\n \n\n\n\n\nContained Ounces (Oz)\n\n\n-\n\n\n90,800\n\n\n424,310\n\n\n515,110\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nLubando \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nTonnes (millions)\n\n\n-\n\n\n-\n\n\n6.78\n\n\n \n\n\n\n\nGrade (g/t)\n\n\n-\n\n\n-\n\n\n1.10\n\n\n \n\n\n\n\nContained Ounces (Oz)\n\n\n-\n\n\n-\n\n\n239,870\n\n\n239,870\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nTotal Contained Ounces (Oz) \n\n\n-\n\n\n90,800\n\n\n664,180\n\n\n754,980\n\n\n\n\n \nThe information provided in relation to this resource update has been reviewed and verified by Kibo's qualified person, Noel O'Kef...