Business
Update regarding Orogen Gold JV on Silverton
Update regarding Orogen Gold JV on Silverton.
About this update from Galileo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0439F Galileo Resources PLC 12 May 2017 \n\n \n12 May 2017\n \n \n Galileo Resources PLC\n(\"Galileo Resources, \"Galileo\" or \"the Company\")\n \nUpdate regarding Orogen Gold JV on Silverton\nGalileo (AIM:GLR), the exploration and development mining company with copper projects in South Africa, gold projects in Nevada USA and a rare-earth project in South Africa, has now received notification (see previous announcement 24 March 2017) from Orogen Gold plc (\"Orogen\"), its JV partner in the Silverton gold property (\"Property\") in Nevada, that following a change in Orogen's strategy, it has ceased its mineral exploration activities. Consequently, in accordance with the terms of the Silverton Earn-In Agreement (the \"Agreement\"), dated 27 June 2016, Orogen has formally withdrawn from the Agreement without recourse. All interests in the Property and the data acquired by Orogen revert to Galileo. \nClaim fees for the Property have been paid to August 2017. \nThe Company is reviewing its options for the Property and will keep shareholders updated of any developments. \nA copy of this announcement is also available on the website. \nYou can also follow Galileo on Twitter: @GalileoResource\n \n \n \nFor further information, please contact:\n \n\n\n\n\nAndrew Sarosi, Executive Director\n\n\nTel +44 (0) 1752 221937 /020 7584 2155\n\n\n\n\nBeaumont Cornish Limited - Nomad \nRoland Cornish/James Biddle\n\n\n\nTel +44 (0) 20 7628 3396\n\n\n\n\nBeaufort Securities Limited - Broker \nJon Belliss\n\n\nTel +44 (0) 20 7382 8416\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCUUASRBNAVAAR\n ","length":3264,"tagName":"div"}]