Georgian Mining Corporation Exploration Permit Approval Imminent (9248B)
26 September 2018 - 4:00PM
UK Regulatory
TIDMGEO
RNS Number : 9248B
Georgian Mining Corporation
26 September 2018
Georgian Mining Corporation / EPIC: GEO / Sector: Natural
Resources
26(th) September 2018
Georgian Mining Corporation
('GEO' or the 'Company')
Georgian Mining Exploration Permit Approval Imminent
Georgian Mining Corporation announces the results of a meeting
with the new Minister of Economy and Sustainable Development, Mr.
Georga Kobulia, on Friday 21(st) September in Tbilisi, Georgia.
Mike Struthers, Chief Executive Officer said:
"Mr. Kobulia settled full-time into his role as Minister of
Economy and Sustainable Development on 10(th) September and I was
able to meet with him and the Head of the Mining Agency, Ms. Maia
Zavrashvili, at the end of last week. We had a productive
discussion around the history of the Company, our plans in Georgia,
details of our exploration successes, the pending permit approval,
and the Government's plans to significantly expand the country's
minerals industry.
"The Minister recognises the quality of our application and our
urgency to resolve the issue quickly. He said we can be optimistic
for a positive outcome very soon.
"As mentioned previously, this delay has arisen from the
Government reorganisation which started in late June and it has
taken some time for the new Ministers to divest themselves of their
previous responsibilities and to settle into their new roles. I'm
very pleased that we finally had the opportunity to present our
Company and our permit application at this level and I'm confident
that we'll have a positive response very soon.
"I'm also encouraged by the very constructive meeting I had with
the Deputy Minister of Environmental Protection and Agriculture,
Ms. Nino Tandilashvili, in which we shared our common views on
"Responsible Mining" and the Government's migration to European
Union standards. Furthermore, we also discussed our Company's plans
for environmental studies and CSR programmes in concert with the
development of our projects. All of our meetings provided for very
positive dialogues and I look forward to working with the
Government in the future."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
**ENDS**
For further information please visit www.georgianmining.com or
contact:
Mike Struthers Georgian Mining Corporation Company Tel: 020 7907
9327
Ewan Leggat S. P. Angel Corporate Nomad & Broker Tel: 020 3470
Finance LLP 0470
Soltan Tagiev S. P. Angel Corporate Nomad & Broker Tel: 020 3470
Finance LLP 0470
Damon Heath Shard Capital Partners Joint Broker Tel: 020 7186
LLP 9950
Camilla Horsfall Blytheweigh PR Tel: 020 7138
3224
Julia Tilley Blytheweigh PR Tel: 020 7138
3553
Simon Woods Blytheweigh PR Tel: 020 7138
3204
About Georgian Mining Corporation
Georgian Mining Corporation has 50% ownership and operational
control of the Bolnisi Copper and Gold Project in Georgia, situated
on the prolific Tethyan Belt, a well-known geological region and
host to many high-grade copper-gold deposits and producing mines.
The Bolnisi concession covers an area of over 860 sq km and has a
30-year mining licence with a variety of targets and projects
ranging from greenfield exploration / target definition phase
through intermediate target-testing phases to more advanced
projects including Kvemo Bolnisi East which will advance to
Feasibility Study in 2018. These projects are proximal to existing
mining operations owned by the Company's joint venture partner, and
their sister production company. Georgia has an established mining
code and is a jurisdiction open to foreign direct investment.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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