Business
Renewal of Mining Licence
IMC Exploration Group PLC has successfully renewed its mining licence for the Karaberd Mine in Armenia through its subsidiary Assat LLC, extending the tenure until January 1, 2035. This renewal permits underground extraction of 30,000 tons of ore annually, with the right to extract up to 1,274 kg of gold and 2,310 kg of silver. The company also noted a Competent Persons Report from June 26, 2023, detailing significant mineral resources. IMC is currently finalizing agreements for ore enrichment and concentrate production, and is also progressing towards a dual listing on the Armenian Stock Exchange. Disclaimer*
About this update from Imc Exploration Group Plc
[{"type":"text","content":"\n\n \n \n \n \n \n \n \n \n \n THE DIRECTORS OF IMC EXPLORATION GROUP PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 596/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE \"MARKET ABUSE REGULATION\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n IMC Exploration Group Public Limited Company\n \n \n \n \n (\"IMC\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n \n \n \n IMC Exploration Group Public Limited Company announces the successful renewal of its mining licence to Assat LLC, IMC's 100% owned subsidiary, for the Karaberd Mine, located in Lori Marz province, Republic of Armenia,\n \n \n \n \n \n \n \n \n \n \n \n \n \n IMC is delighted to announce the renewal of its mining licence to Assat LLC, IMC's 100% owned subsidiary, for the Karaberd Mine, located in Lori Marz province Republic of Armenia.\n \n \n \n \n \n The licence has been renewed for a period of 9 (nine) years until 1\n st\n January 2035.\n \n \n \n \n \n The renewed licence provides for underground extraction of 30,000 tons of ore per annum and a requirement to submit a reserve revaluation report to the authorized body two years after receiving the right to use the subsoil, which should also include the reserves available in the open pit. \n \n \n Under the renewed Licence Assat LLC has a right to extract up to 1,274 kg of gold and 2,310 kg of silver.\n \n \n \n \n \n The renewal was awarded by the Minister for Territorial Administration and Infrastructures of the Republic of Armenia by way of amendments to the original licence\n \n NO.\n \n t\n U@-29/366.\n \n \n \n \n \n The extended tenure of the licence to 2035 secures the long-term future of the mine and enables the systematic extraction of the ore that will be processed to extract Gold and Silver.\n \n \n \n \n \n Chairman, Eamon O'Brien commented \n \n \"I am extremely pleased and happy for IMC, for our shareholders,\n \n \n \n \n \n including\n \n \n \n \n \n our major shareholder Mineral Ventures Invest s.r.o. ...