Business
Investment in Greatland Gold PLC
Investment in Greatland Gold PLC.
About this update from Primorus Investments Plc
[{"type":"text","content":"\n \nRNS Number : 6614I Primorus Investments PLC 27 November 2018 \n\nPrimorus Investments plc\n(\"Primorus\" or the \"Company\")\nInvestment in Greatland Gold PLC \n \nPrimorus Investments plc (AIM: PRIM, NEX: PRIM) is pleased to advise shareholders that, as per its investment mandate, it has purchased a total of 27m shares in AIM-listed metals exploration company Greatland Gold PLC (\"Greatland\"; (GGP.L)).\nCommencing on the 19th of November and finishing on the 26th of November, Primorus has purchased 27m shares at an average price of 1.67p per share representing approximately 0.84% of Greatland's ordinary shares in issue for a consideration of approximately £450,000.\nGreatland recently reported an excellent combined drilling intercept of 275m at 4.77g/t gold and 0.61% copper, including an upper zone of 118m at 3.08g/t gold and 0.84% copper from 459m and a lower zone of 157m at 6.04g/t gold and 0.44% copper from 660m (HAD005) at its 100%-owned Havieron Gold/Copper project in the Paterson Province region of Western Australia.\nPreviously announced drilling by Greatland at Havieron also yielded excellent results, including 121m at 2.93g/t gold and 0.23% copper from 497m (HAD001) and 21m at 3.79g/t gold 0.44% copper from 418m (HAD003). Further drilling results from Havieron are pending.\n \nAlastair Clayton, Executive Director commented\n\"As per our investment mandate, which includes natural resources, we have taken (for us) a meaningful stake in Greatland Gold PLC for exposure to what we regard as its hugely exciting Havieron Project and substantial exploration portfolio in the emerging exploration region, the Paterson Province in Western Australia. The Paterson Province is home to the prolific Telfer Gold mine that produced over 425,000oz in 2017/18 and more recently has been the location of the, as yet unquantified, Winu Copper Discovery by Rio Tinto PLC (RIO.L).\nThe results from Havieron to date are, in my opinion, shaping up as one of the most exciting gold/copper discoveries globally for many years. We are particularly impressed by the very large widths and high-grade nature of the small number of drill holes to date and whilst early days, I believe this discovery has the potential to be a Tier 1 mining asset in a low sovereign-risk jurisdiction should the exploration results continue to confi...