TIDMORE
RNS Number : 7024M
Orogen Gold PLC
11 May 2015
11 May 2015
Orogen Gold
("Orogen" or the "Company")
Final Results for the year ended 31 December 2014
Orogen Gold plc (AIM: ORE), the AIM quoted gold exploration
company, announces its audited results for the year ended 31
December 2014.
Operational Highlights
Mutsk gold project Armenia
-- Signed a full joint venture agreement with Georaid CJSC
covering the Mutsk gold project in southern Armenia
-- Geophysical programme completed across the 2.5 sq. km core
target area which has assisted considerably in the interpretation
of fault structures and zones of mineralisation
-- 4,120m diamond drilling programme comprising 27 holes to
depths of up to 200m completed with step out holes confirming wide
intercepts of gold mineralisation (up to 60m @ 1.21g/t Au,
including 10m @ 3.11 g/t Au)
-- Gold mineralisation within a 250m by 100m zone has been
drilled in detail showing continuity of the mineralisation
-- Gold mineralisation identified with drilling along strike
extending the limits of the hydrothermal system. Mineralised
targets remain open below the depths drilled
-- Post year end independent geological report confirms the
Company's optimism on the potential scale of the discovery. A
separate mineralogical report highlights the potential for high
recoverability of gold
Deli Jovan, Serbia
-- Earn-in phase of the project completed with Orogen now holding 60% interest in the project
Financial and Corporate Highlights
-- GBP1,125,000 raised before costs through the issue of
1,022,727,272 new ordinary shares at 0.11p per share, in September
2014
-- Cash at 31 December 2014 of GBP1,118,000
-- Loss for the year of GBP1.86 million, after an impairment
charge of GBP1.3 million on the carrying value of the Deli Jovan
exploration and evaluation asset. The Group's focus in the near
term is on the Mutsk project and the introduction of new partners
to share in the cost of advancing the project
-- The Board continues to seek out and evaluate opportunities with near term value
-- Appointment of Anthony Venus as Non-Executive Director on 24 July 2014
-- Notice of the AGM, to be held on 10 June 2015, is now available on the Company's website at www.orogengold.com
Enquiries:
Orogen Gold Plc +353 1662 8395
Ed Slowey, CEO
Alan Mooney, FD
Cairn Financial Advisers LLP +44 (0) 20 7148
(Nominated Adviser) 7900
Avi Robinson/ Liam Murray
Beaufort Securities Limited +44 (0) 20 7382
(Broker) 8300
Elliot Hance
Walbrook (Public and Investor +44 (0) 20 933
Relations) 8780
Paul Cornelius/ Guy McDougall orogengold@walbrookpr.com
Chairman's Statement
During 2014 natural resource prices were generally in decline
although, gold having fallen back in 2013 was relatively stable in
price terms at between US$1,200 and US$1,300 per oz. Share prices
of exploration companies were under pressure and raising new
capital in equity markets was and continues to be challenging for
junior exploration companies.
Mutsk, Armenia
Our focus has been on developing the Mutsk gold exploration
project in southern Armenia to follow-up on the epithermal gold
mineralisation discovery that we made in 2013. We completed 27
diamond-drilling holes totalling 4,120 metres which has confirmed
and expanded the discovery. We agreed with our drilling contractor
to make part payment for the drilling programmes in equity in order
to preserve the Company's cash and this has proven to be a workable
and efficient financing method.
Mutsk presents a new and exciting gold discovery with
significant resource potential. The project requires further infill
and deeper drilling programmes to prove up a resource for
development. There are also significant outlying targets from the
main discovery zone that merit further follow-up.
We are currently reviewing options for financing the work to be
done including the possibility of introducing a project
partner.
Deli Jovan, Serbia
We are continuing working towards introducing a new partner to
advance the work on the Deli Jovan gold property in Serbia.
Corporate
Anthony Venus was appointed to the board as Non-Executive
Director in July 2014. Anthony brings with him a strong recent
background in relation to advice and investment in minerals
projects, as well as general entrepreneurial experience.
In September 2014, the Company raised GBP1,125,000 before costs
through the placing of 1,022,727,272 new ordinary shares of
GBP0.001 each at 0.11p per share with investors. In October 2014,
the Directors subscribed GBP75,000 for 65,217,391 new ordinary
shares of GBP0.001 each at 0.115p per share and 76,648,400 new
ordinary shares of GBP0.001 each were issued to the Company's
drilling contractor as part payment for drilling services at 0.2p
per share. The drilling contractor has undertaken not to dispose of
the latter shares within a period of two years from the date of
issue.
In December 2014, at a general meeting of the Company, the
existing ordinary shares of 0.1p each in the Company were
sub-divided into one ordinary share of 0.01p each and one deferred
share of 0.09p each. Every 10 deferred shares so created were then
consolidated into one deferred share of 0.9p each in line with the
issue price of existing deferred shares already in issue.
Subsequent to the general meeting and at the year-end 2014 the
issued ordinary share capital of the Company comprised
3,560,432,183 ordinary shares of 0.01p each.
Under the terms of the Mutsk joint venture agreement, the
Company exercised its continuation notice on the project in
December 2014 and subsequent to year end, in February 2015,
allotted ordinary shares in the Company to the value of US$100,000
to our joint venture partner. A total of 110,886,804 new ordinary
shares of 0.01p each in the Company were issued. A further
36,350,350 new ordinary shares of 0.01p each were issued in March
2015 to the Company's drilling contractor at an issue price of 0.2p
per share to complete the issue of shares for drilling services
completed during 2014.
In November 2014, we appointed Cairn Financial Advisers LLP as
Nominated Adviser and, in March 2015, Beaufort Securities Limited
as broker to the Company.
At 31 December 2014, the Group held cash resources of
GBP1,118,000 (2013: GBP1,208,000).
Outlook
The difficult environment for junior exploration companies means
that we have to be very careful to preserve and make best use of
our cash resources. We have already made several initiatives to
reduce corporate costs during 2015 and while we will continue with
close involvement in our exploration projects we are seeking to
introduce new partners to share in the cost of developing these to
resource definition status. In addition we will seek new
opportunities with accretive value potential for our Company and
our shareholders.
Adam Reynolds
Chairman
11 May 2015
Strategic Report
STRATEGY AND OBJECTIVES
The principal activity of Orogen Gold plc ("Orogen" or the
"Company") is the development of mineral exploration and production
projects in Europe, with an emphasis on gold exploration and
project development. Orogen's strategy is to acquire prospective
early-stage growth opportunities at a low entry cost within the
European arena. The three steps in the Orogen strategy are to:
(1) Identify and secure low entry cost gold projects in
underexplored and frontier locations in Europe,
(2) Undertake an efficient cost controlled programme of project
evaluation and appraisal,
(3) Move to establish gold resources at an early stage.
Orogen currently operates two gold exploration projects.
The Mutsk Gold Project ("Mutsk") is located in the Syunik
Province in southern Armenia 210km southeast of the capital city
Yerevan at about 2,000m elevation. Orogen has an exclusive Joint
Venture agreement with Georaid CJSC ("Georaid"), an Armenia
registered company, to earn an 80% interest in Mutsk by incurring a
total of US$2.5m in exploration expenditure on the project by the
end of August 2016. Limited historic exploration had been carried
out until drilling by Georaid in 2011, which intersected low
sulphidation epithermal-type pyrite-gold mineralisation in altered
and brecciated tuffs. The presence of high level diatremes at Mutsk
may be suggestive of low sulphidation gold occurrences which are
analogous to Montana Tunnels (Montana - USA, approximately 44
million tonnes @ 0.55 g/t Au), Rosia Montana (Romania, 214.9
million tonnes @ 1.46 g/t Au) and Kelian (Indonesia, 55 million
tonnes @ 2.0 g/t Au).
The Company's other gold exploration project, the Deli Jovan
Gold Project ("Deli Jovan"), is located in the Zajecar municipality
in eastern Serbia approximately 250 kilometres from Belgrade.
Orogen holds a 60% interest in Deli Jovan with the remaining 40%
interest held by Reservoir Minerals Inc. ("Reservoir"), a company
listed on the TSX Venture Exchange (ticker: RMC). Deli Jovan is an
historic gold mining camp which was last in production prior to
World War II with the major part of gold production taking place
during the period from 1900 to 1912. There are two former gold
mines within the Deli Jovan exploration permit area.
REVIEW OF BUSINESS
Mutsk Gold Project
In February 2014 Orogen signed a comprehensive Joint Venture
Agreement (the "JV Agreement") with Georaid covering the Mutsk
property. The JV Agreement incorporates the terms of the previous
Memorandum of Understanding and sets out detailed terms for all
work on the property, up to and including a Feasibility Study, if
warranted.
The 2014 field work season commenced with the completion of a
geophysical programme which comprised Induced Polarisation,
Resistivity and Magnetic surveys. The aim was to trace zones of
pyritic sulphide mineralisation which can be gold-bearing, as well
as zones of weak magnetism indicative of hydrothermal alteration
associated with the wider transport and emplacement of gold within
the property. The programme was completed across the 2.5 square
kilometre core target area of the Mutsk project in June 2014.
Follow up drilling focussed on delineation of both high grade and
more extensive low-grade gold mineralisation, as well as follow-up
of targets defined by the geophysical surveying. The magnetic
survey data assisted considerably in the interpretation of fault
structures which may exert control over distribution of
mineralisation.
The 2014 diamond drilling programme commenced in July. A minimum
programme of 3,000 metres was planned and was later extended to
4,000m following strong initial drilling results which included
step out holes confirming the wide zones of gold mineralisation
with intercepts up to 60m @ 1.21g/t Au, including 10m @ 3.11 g/t
Au.
The drilling programme was completed in late November 2014 as
winter snow set in. In all, a total of 4,120m was drilled in 27
holes. The results of the 2014 drilling programme have
significantly increased our confidence in the continuity of the
gold mineralisation within a 250m by 100m zone which has been
drilled in some detail. Drilling along strike has continued to
extend the limits of the hydrothermal system which has still not
been closed off. A second mineralised zone has been identified and
occurs about 200m to the north of the main zone. Drilling to date
has been to depths of up to 200m and all mineralised targets remain
open below the depths drilled.
Under the terms of the JV Agreement the Company has exercised
its rights to continue exploration work on the project beyond 31
December 2014.
Deli Jovan Gold Project
The earn-in phase of the project has now been completed with
Orogen holding a 60% interest in the project. Limited field work
was completed in the current season.
Financial
The loss for the year amounted to GBP1,859,000 (2013:
GBP4,176,000). The loss for the year comprises general and
administrative expenses of GBP548,000 (2013: GBP493,000),
impairment charge of GBP1,318,000 (2013: GBP3,702,000) and finance
income of GBP7,000 (2013: GBP20,000). The impairment charge is as a
result of a review performed on the carrying value of the
exploration and evaluation assets related to the Deli Jovan Gold
Project.
FUTURE DEVELOPMENTS
Mutsk Gold Project
An independent geological review report was received in early
2015. It concludes that gold mineralisation at Mutsk overlies a
large hydrothermal system of which only a small portion has been
explored to date. The independent geological overview report
confirms our optimism regarding the potential scale of the
discovery and points towards some additional drill targets, related
to structural junctions and possible high grade gold zones at
deeper levels. Analogies with other large-scale low-sulphidation
epithermal deposits also help to highlight the potential of the
project.
Orogen has used the winter months to compile all exploration
data for the property and to develop a geological model which will
drive the planning of future field work. In addition the Company is
reviewing options available for financing development of the
project including the possibility of introducing a joint venture
partner.
Deli Jovan Gold Project
The Deli Jovan exploration licence runs to 12 March 2016. No
significant field work is currently planned on the project. Orogen
in conjunction with our JV partner, Reservoir, are actively seeking
a partner to advance the project.
KEY PERFORMANCE INDICATORS
The key indicators of performance for the Group is its success
in identifying, acquiring and developing and divesting of
investment in exploration projects so as to create shareholder
value. The Group carries out its operations by way of execution of
operational plans that are approved and budgeted in advance by the
Board. Operational progress is reviewed by the Board on a regular
basis and actual costs are compared to budgets.
Control of bank and cash balances is a priority for the Group
and these are budgeted and monitored closely to ensure that the
Group maintains adequate liquidity to meet financial commitments as
they arise. At 31 December 2014 the Company held GBP1,118,000 of
cash resources.
The Company initially secured an exclusive option to earn-in the
Mutsk Gold Project in January 2013 and has subsequently signed a
full joint venture earn-in agreement in February 2014. The Company
was highly encouraged by the results received during project
exploration in 2013 and 2014. During the current year the Company
incurred GBP924,000 of exploration costs on Mutsk. The Company
remains on track to complete the project earn-in by incurring
US$2.5m of exploration expenditure on the project by 20 August
2016. At year-end 2014, approximately 70% of qualifying earn-in
expenditure has been incurred.
PRINCIPAL RISKS AND UNCERTAINTIES
The Group considers that the principal risks to the achievement
of its business plans are as follows:
Operational
In common with other businesses operating in gold exploration,
the Group's activities are speculative and are inherently subject
to a high degree of risk.
The Group's operational work involves geological exploration and
the implementation of geological work programmes. Interpretation of
the results of these programmes is dependent upon judgements and
assessments that by their very nature are speculative; these
interpretations are applied in designing further work programmes to
which the Group can commit significant resources. Work programmes
often involve excavation of former mine workings, drilling
operations and other geological work that present significant
engineering challenges which are subject to unexpected operational
problems. The actual cost of programmed operations can vary
significantly from planned levels as a result of unexpected issues
arising.
Climate
The Group's activities take place in remote locations that can
be subject to severe climate events, particularly during the winter
season. Severe winter weather can cause delays in implementation of
planned programmes and can have cost consequences in recovering
from damage caused by climatic events.
Political, economic, legal, regulatory and social
The Group operates in different countries where political,
economic, legal, regulatory and social uncertainties are potential
risk factors. The Group has restricted its activities to Europe
where such risks could be considered to be less than in many
developing countries in other parts of the world.
Tax risk
The Group endeavours to be fully tax compliant and to manage its
tax affairs efficiently in every jurisdiction in which it operates.
In a complex and ever changing European tax and VAT environment,
some uncertainty is inherent in estimating the Group's liabilities.
The Group is exposed to changes in legislation and interpretation
of existing policies across the countries in which operations take
place. The Company is in discussions with HMRC in relation to the
VAT recoverability position of Orogen Gold plc. The Company
exercises judgement in assessing the required level of provision
for risks identified.
Organisational
The Group is dependent on the experience and skills of the
Directors and senior management to successfully execute its
strategy; the loss of such key contributors would present a risk to
the business. Staffing levels and development of business processes
and policies are kept under regular review to ensure that they are
appropriate and adequate for the scale and growth of the Group's
business.
Financial
The Group's projects are at an early stage and currently do not
generate any cash flow to support the exploration activities. The
valuation and future earnings of the Company are exposed to
movements in the market price of gold which is sold in US$. Orogen
is also subject to exchange rate risk with the Company's accounts
in GBP while the Company's projects require funding in US$ and
CAD$. The operating entities of the projects to which Orogen has
earn-in agreements incur substantial costs in Armenian Dram and
Serbian Dinar.
Insurance
The Group has in place insurance protection, including a
directors and officers liability policy, to insure against risks of
loss where management deems appropriate and cost effective; however
in some cases risks cannot be effectively covered by insurance and
the cover in place may not be sufficient to cover the extent of
potential liabilities.
Health and safety
Health and safety of all those working in and visiting the
Group's installations is a priority. The Group's operations can
take place in dangerous environments particularly where underground
mining and exploration activities are being pursued. The Group has
in place a comprehensive health and safety policy alerting all
concerned to the risks involved and to the required precautions
that staff and visitors to the Group's operations must take. Staff
and authorised visitors are only permitted access to underground
facilities when safety inspection has been completed and
certificates issued by the appropriate and competent authority.
Environment and community
The Company recognises its social responsibilities and seeks to
adopt the best contemporary practice applicable to each country and
region of operation. To ensure this standard is met the Company
aims to:
-- plan and conduct exploration activities in a manner that
complies with legislation pertaining to the protection of the
environment and employees;
-- in the absence of legislation, apply best contemporary
practice relating to the protection of the environment;
-- undertake internal environmental reviews associated with operational fieldwork;
-- train staff to apply best contemporary practices;
-- engage in research to study the impact of mining activities
on the locality and implement technologies that are environmentally
friendly;
-- participate in the development of environmental legislation
to ensure a balance is attained between protecting the environment
and developing practical laws;
-- inform government, employees, local communities and other
stakeholders of our activities, and encourage joint venture
partners and suppliers to adopt the principles of this
statement.
Ed Slowey Alan Mooney
Director Director
11 May 2015
Consolidated statement of profit or loss and other comprehensive
income
For the year ended 31 December 2014
2014 2013
GBP'000 GBP'000
------------------------------------ -------- --------
Continuing operations
Revenue - -
Operational costs - -
------------------------------------ -------- --------
Gross profit - -
General and administrative
expenses (548) (493)
Share based payments - (1)
Impairment of exploration and
evaluation assets (1,318) (3,702)
Group operating loss (1,866) (4,196)
Finance income 7 20
------------------------------------ -------- --------
Loss on ordinary activities
before taxation (1,859) (4,176)
Tax on loss on ordinary activities - -
------------------------------------ -------- --------
Loss for the year from continuing
operations (1,859) (4,176)
Attributable to:
Equity holders of the parent (1,657) (4,175)
Non-controlling interests (202) (1)
------------------------------------ -------- --------
Group loss for the year (1,859) (4,176)
Exchange translation differences (3) 16
------------------------------------ -------- --------
Total comprehensive loss for
the year (1,862) (4,160)
Attributable to:
Owners of the parent (1,660) (4,159)
Non-controlling interests (202) (1)
------------------------------------ -------- --------
(1,862) (4,160)
------------------------------------ -------- --------
Loss per share:
Loss per share - basic and
diluted, attributable to ordinary
equity holders of the parent
(pence) (0.06) (0.19)
Consolidated statement of financial position
As at 31 December 2014
2014 2013
GBP'000 GBP'000
------------------------------- --------- ---------
Assets
Non-current assets
Exploration and evaluation
assets 1,811 2,136
Property, plant and equipment 3 22
------------------------------- --------- ---------
Total non-current assets 1,814 2,158
------------------------------- --------- ---------
Current assets
Trade and other receivables 58 82
Cash and cash equivalents 1,118 1,208
Total current assets 1,176 1,290
------------------------------- --------- ---------
Total assets 2,990 3,448
------------------------------- --------- ---------
Equity and liabilities
Equity
Share capital 4,222 3,057
Share premium 11,827 11,704
Other reserves 760 625
Retained earnings (14,088) (12,431)
------------------------------- --------- ---------
Equity attributable to owners
of the parent 2,721 2,955
Non-controlling interests 200 402
------------------------------- --------- ---------
Total equity 2,921 3,357
------------------------------- --------- ---------
Current liabilities
Trade and other payables 69 91
------------------------------- --------- ---------
Total current liabilities 69 91
------------------------------- --------- ---------
Total liabilities 69 91
------------------------------- --------- ---------
Total equity and liabilities 2,990 3,448
------------------------------- --------- ---------
Consolidated statement of cash flows
For the year ended 31 December 2014
2014 2013
GBP'000 GBP'000
-------------------------------------- -------- --------
Cash flows from operating activities
Group operating loss (1,866) (4,196)
Decrease in trade and other
receivables 35 289
Increase in trade and other
payables 18 14
Impairment of exploration and
evaluation assets 1,318 3,702
Share based payments - 1
-------------------------------------- -------- --------
Net cash flow from operating
activities (495) (190)
-------------------------------------- -------- --------
Cash flow from investing activities
Expenditure on exploration
and evaluation assets and project
earn-ins (893) (852)
Bank interest received 7 20
-------------------------------------- -------- --------
Net cash flow from investing
activities (886) (832)
-------------------------------------- -------- --------
Cash flow from financing activities
Net proceeds from issue of
equity instruments 1,288 595
-------------------------------------- -------- --------
Net cash flow from financing
activities 1,288 595
-------------------------------------- -------- --------
Net change in cash and cash
equivalents (93) (427)
Net foreign exchange difference 3 14
Cash and cash equivalents at
beginning of year 1,208 1,621
-------------------------------------- -------- --------
Cash and cash equivalents at
end of year 1,118 1,208
-------------------------------------- -------- --------
Consolidated statement of changes in equity
For the year ended 31 December 2014
Foreign
Share currency Non-controlling
Share Share based Shares Retained translation interests
capital premium payment to earnings reserve Total Total
reserve be equity
issued
reserve
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------- --------- --------- --------- --------- ---------- ------------- -------- ----------------- --------
Balance at
1 January
2013 2,841 11,325 712 - (8,377) 17 6,518 403 6,921
Loss for the
year - - - - (4,175) - (4,175) (1) (4,176)
Share based
payments - - (120) - 121 - 1 - 1
Foreign
exchange
translation
reserve - - - - - 16 16 - 16
Issue of
share
capital 216 379 - - - - 595 - 595
------------- --------- --------- --------- --------- ---------- ------------- -------- ----------------- --------
Balance at
31 December
2013 3,057 11,704 592 - (12,431) 33 2,955 402 3,357
------------- --------- --------- --------- --------- ---------- ------------- -------- ----------------- --------
Balance at
1 January
2014 3,057 11,704 592 - (12,431) 33 2,955 402 3,357
Loss for the
year - - - - (1,657) - (1,657) (202) (1,859)
Shares to
be issued - - - 138 - - 138 - 138
Foreign
exchange
translation
reserve - - - - - (3) (3) - (3)
Issue of
share
capital 1,165 123 - - - - 1,288 - 1,288
Balance at
31 December
2014 4,222 11,827 592 138 (14,088) 30 2,721 200 2,921
------------- --------- --------- --------- --------- ---------- ------------- -------- ----------------- --------
Notes
1 Financial Information
The financial information set out above does not constitute the
Company's statutory accounts for the year ended 31 December 2014,
but is derived from those accounts. The auditors have reported on
those accounts; their report was unqualified and did not draw
attention to any matters by way of emphasis without qualifying
their report.
2 Loss per Share
Basic loss per share is calculated by dividing the loss
attributable to equity shareholders by the weighted average number
of ordinary shares in issue during the period:
2014 2013
------------------------------------------ -------- --------
Loss after tax attributable to equity
holders of the parent (GBP'000) (1,657) (4,175)
Weighted average number of ordinary
shares in issue (share in millions) 2,723 2,220
Fully diluted average number of ordinary
shares in issue (share in millions) 2,723 2,220
------------------------------------------ -------- --------
Basic and diluted loss per share (pence) (0.06) (0.19)
------------------------------------------ -------- --------
Basic and diluted earnings per share are the same, since where a
loss is incurred the effect of outstanding share options and
warrants is considered anti-dilutive and is ignored for the purpose
of the loss per share calculation. The share options outstanding as
at 31 December 2014 totalled 225,000,000 (2013: 225,000,000) and
are potentially dilutive.
3 Exploration and Evaluation Assets
Armenia Serbia Total
GBP'000 GBP'000 GBP'000
---------------------------- ---------- --------- --------
Cost
At 1 January 2013 - 4,986 4,986
Additions 387 465 852
---------------------------- ---------- --------- --------
At 31 December 2013 387 5,451 5,838
---------------------------- ---------- --------- --------
Impairment
At 1 January 2013 - - -
Impairment charge - 3,702 3,702
---------------------------- ---------- --------- --------
At 31 December 2013 - 3,702 3,702
---------------------------- ---------- --------- --------
Carrying value 31 December
2013 387 1,749 2,136
---------------------------- ---------- --------- --------
Cost
At 1 January 2014 387 5,451 5,838
Additions 924 69 993
---------------------------- ---------- --------- --------
At 31 December 2014 1,311 5,520 6,831
Impairment
At 1 January 2014 - 3,702 3,702
Impairment charge - 1,318 1,318
At 31 December 2014 - 5,020 5,020
Carrying value 31 December
2014 1,311 500 1,811
---------------------------- ---------- --------- --------
As part of the annual impairment review of asset carrying values
a charge of GBP1,318,000 (2013: GBP3,702,000) was recorded in
relation to the Deli Jovan project in Serbia.
4 Events after the Reporting Period
Under the terms of the joint venture agreement (the "Agreement")
with Georaid CJSC ("Georaid") in relation to the Mutsk project the
Company is required to allot Ordinary shares in the Company to the
value of US$100,000 if it wishes to continue exploration on the
Mutsk property beyond 31 December 2014. Orogen has exercised its
continuation rights and has issued a total of 110,886,804 new
ordinary shares of 0.01p each in the Company, in accordance with
the Agreement on 3 February 2015.
On 27 March 2015, the Company issued 36,350,350 new ordinary
shares of 0.01p each in the Company at an issue price of 0.2p to
DEM Geosciences SAL. This represents the final share issue in
relation to drilling services provided during 2014.
5 Annual Report and Annual General Meeting
The Annual Report for the year ended 31 December 2014 will be
posted to shareholders on 14 May 2015 and will be available to
download from the Company's website at www.orogengold.com on 14 May
2015.
The Annual General Meeting of Orogen Gold plc will be held at
Finsgate, 5-7 Cranwood Street, London EC1V 9EE on 10 June 2015 at
12.00 noon. Notice of the AGM is now available on the Company's
website at www.orogengold.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR LLFLREEITIIE
Orogen Gold (LSE:ORE)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Orogen Gold (LSE:ORE)
Historical Stock Chart
Von Jul 2023 bis Jul 2024