Business
re: Norplat
re: Norplat.
About this update from Talisman Metals Plc
[{"type":"text","content":"\n Ovoca Gold PLC\n25 August 2006\n\n\n\n\n\n\n\n\n\n Ovoca Gold plc ('Ovoca' of the 'Company')\n\n\n\n OVOCA INCREASES SHAREHOLDING IN NORPLAT TO 100%\n\n\n\nOvoca (AIM:OVG; IEX:OVX) announces that it has acquired 8,100,000 ordinary\nshares in its subsidiary Norplat Limited ('Norplat'), under the terms of the May\n2005 Norplat Option Agreement, in consideration of the issue of 8,910,000 new\nOvoca ordinary shares of €0.025 each ('Ordinary Shares').\n\n\n\nAs a result of the transaction, Ovoca now has a 100% interest in Norplat.\n\n\n\nIn addition, application will be made for 2,500,000 Ordinary Shares to be issued\nto satisfy certain professional service and consultancy liability obligations.\n\n\n\nRoger Turner, Chairman, said 'We are delighted to complete the acquisition of\nNorplat, which is strategic to our long term plans. Exploration work has been\ncontinuing on Norplat's Kola Peninsula licences on gold and copper targets.\nMeanwhile, on the other side of Russia at our Goltsovoye silver project,\ndrilling has commenced earlier this month as part of the bankable feasibility\nstudy under the supervision of Wardell Armstrong International. Following\ncompletion of the bankable study, Ovoca Gold plans to rapidly move into mine\nconstruction during 2008 and position the company to become a mid-tier precious\nmetals producer.'\n\n\n\n\n\n25 August 2006\n\n\n\nFor further information please contact\n\nRoger Turner - Chairman\n+44 (0)7739 092 813\n\nTom McCormack - Connexions PR\n+ 353 (0)86 245 4215\n+ 353 (0)1 230 3015\n\nNick Bias - Buck Bias\n+44 (0)7887 920 530\n\nJohn Frain - Davy Corporate Finance\n+ 353 (0)1 679 6363\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1803,"tagName":"div"}]