(ORE) Orogen Gold
Summary
Trade long or short on this share now through an Interactive Investor Spread Bet or CFD
|
|
|||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
| Headline | Source | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
||||||||||||||
| 05-12-11 | RNS |
|||||||||||||
|
RNS Number : 2934T Orogen Gold PLC 05 December 2011 5 December 2011
Orogen Gold Plc ('Orogen' or 'the Company')
Operational Update
Orogen Gold Plc (AIM:ORE) the AIM listed mineral exploration company, focussed on gold exploration and development in eastern Europe, gives an operational update on its Deli Jovan project in Eastern Serbia.
The Company is pleased to report that in October it began its programme of underground mapping and sampling at both the former Gindusa and Rusman mines.
The work of accessing the historic Deli Jovan mines has progressed well. When Orogen embarked on this project, very little was known about the mines which had been sealed off for over 70 years and the Board could not be sure of what obstacles would be encountered.
The Company is pleased to report that it has gained access to the upper levels at both mines and following further de-watering and recovery work the team should be able to gain access to the lowest levels. In the meantime the mapping programme is close to completion in the upper levels at Rusman and this work will continue for the next few weeks at both mines. The mapping programme will be supplemented by an underground sampling programme that will help identify targets for a drilling programme that the Company is planning for 2012. Initial indications are that the Gindusa mine represents the more productive of the two former mines, with evidence of pyrite-mineralised quartz veining and open stoping both in the lateral and vertical dimensions. This substantiates the historic reports that Gindusa was a significant gold producer in the past and also supports the potential to uncover new gold zones to the south and west as indicated by the recent soil sampling results.
Results of the mapping and sampling programme should be available for release in Q1 of 2012 at which time Orogen expects to be in a position to define the drilling programme in detail. In the meantime the Company has already reserved a diamond drilling rig in readiness for the commencement of the drilling programme which is scheduled for start-up in April 2012.
The Company would like to draw shareholders' attention to the updated presentation on the Company website www.orogengold.com. The presentation contains additional information on the recent results of the soil sampling programme along with a timeline of future planned activity, amongst other information.
Chief Executive of Orogen Gold Plc, Ed Slowey, commented from the Deli Jovan project in Serbia:
"We knew it could be a challenging task regaining access to historic mines that hadn't been disturbed for over 70 years; the extent of the work involved would only become apparent once we began. It is therefore pleasing to be progressing towards access of all working levels in the two mines. Mapping and sampling of these underground workings is an integral part of our programme in understanding the anatomy of this gold mineralising system. The information we gain from this work will be invaluable as it will guide the first diamond drilling programme in the Spring of 2012 to test the strike and depth continuity of these gold lodes."
"The health and safety aspect of our work is of paramount importance to us and we are being very careful to proceed only when we have the necessary permits in place."
"The placing announced on 28 November 2011 puts Orogen on a strong footing at this critical stage in our development. The Company is now fully funded through to the end of Phase 1 of our exploration programme, encompassing the first planned 7,500 metres diamond drilling campaign, and is also able to progress through a substantial part of Phase 2."
"We look forward to updating shareholders further as we progress the exploration programme and move towards drill testing at the Deli Jovan gold field in the coming year."
Notes to Editors
The Deli Jovan gold project is in eastern Serbia, the site comprising two shallow underground gold mines at Rusman and Gindusa, about 6 kilometres apart along a major shear zone, that were last in production over seventy years ago.
This information is provided by RNS The company news service from the London Stock Exchange More |
||||||||||||||
| 28-11-11 | RNS |
|||||||||||||
|
RNS Number : 8925S Orogen Gold PLC 28 November 2011 28 November 2011
Orogen Gold Plc ("Orogen" or "the Company") Issue of Equity - REPLACEMENT
The following amendments have been made to the announcement entitled "Issue of Equity" released at 7.00 a.m. on 28 November 2011 (RNS No. 8424S):
· The Company's total issued share capital following the completion of the Placing will consist of 1,905,172,453 ordinary shares of 0.1p each with one voting right per share and not 1,900,172,453 ordinary shares.
· The Placing Shares will represent approximately 12.13 per cent of the Company's enlarged share capital and not 12.17 per cent.
· The percentage of each Director's interest in the issued capital of the Company following completion of the Placing will be:
All other information remains unchanged.
The full amended text appears below:
Orogen Gold Plc ("Orogen" or "the Company") Issue of Equity
Orogen Gold Plc (AIM:ORE), the AIM listed mineral exploration company focussed on gold exploration and development of the Deli Jovan gold project in Serbia, announces that it has conditionally placed 231,160,000 new ordinary shares ("Placing Shares") of 0.1p each ("Ordinary Shares") with investors at a price of 0.5p per share thereby raising £1.16 million before costs (the "Placing"). The net proceeds from the Placing will provide additional working capital which will be used, inter alia, to finance further exploration expenditures on the Deli Jovan gold project.
The Placing Shares will represent approximately 12.13 per cent of the Company's enlarged share capital.
Background to and reasons for the Placing
Orogen Gold has an option to earn 55 per cent of the Deli Jovan gold project in Serbia from Canadian Listed (TSX-V) Reservoir Capital Corporation by committing CAD1.5 million (Canadian Dollars) of exploration expenditure on the project. The Company can earn a further 20 per cent by committing an additional CAD2 million of exploration expenditure on the project, which would bring Orogen's total interest in Deli Jovan to 75%.
The net proceeds of the Placing will be used, inter alia, to continue to finance the ongoing exploration expenditures associated with the Deli Jovan gold project. Together with existing cash resources the net proceeds of the Placing will enable the Company to complete the majority of the total earn-in to the Deli Jovan project.
The exploration programme has already achieved access to the historic underground mines at Gindusa and Rusman. The on-going work involves detailed mapping and sampling of the former mines to be followed in Spring 2012 by an initial diamond drilling programme on the property.
The net proceeds of the Placing will also enable the Directors to continue to seek opportunities to introduce a new project or projects to the Company. The Directors are seeking undervalued early-stage gold projects with considerable technical merit which have previously lacked management focus and which through effective exploration programmes provide a high probability to build value in the Company by making a successful commercial discovery.
Ed Slowey, Chief Executive of Orogen Gold comments:
"With our existing cash reserves and new funds raised we will be able to complete the majority of the earn-in at Deli Jovan including an initial diamond drilling programme."
"In the past twelve months we have accessed the two historic gold mines at Gindusa and Rusman. In particular the Gindusa mine workings show that this was a substantial mining operation in the past. The reopening work now facilitates underground mapping and sampling at both former mines which will be followed by a focused diamond drilling programme scheduled for Spring 2012."
"We have also completed detailed soil sampling along the Deli Jovan shear belt. This has identified several highly prospective new gold targets for exploration follow-up."
"We are delighted with our progress so far on the project, which is running to plan, and we anticipate further news over the coming months as our exploration programme progresses."
Directors' Participation
The Directors are participating in the Placing as follows:
Mr John Barry, director, has subscribed for 3,200,000 ordinary shares in the Company pursuant to the Placing. Following this subscription, Mr Barry is interested in 116,555,491 ordinary shares in the Company (representing approximately 6.12 per cent. of the issued share capital).
Mr Ed Slowey, director, has subscribed for 2,200,000 ordinary shares in the Company pursuant to the Placing. Following this subscription, Mr Slowey is interested in 115,555,491 ordinary shares in the Company (representing approximately 6.07 per cent. of the issued share capital).
Balvairde Capital Limited, a company in which both Mr Alan Mooney, director, and Mr Michael Nolan, director, have an interest, has subscribed for 7,400,000 ordinary shares in the Company pursuant to the Placing. Following this subscription, Mr Mooney is interested in 82,970,327 ordinary shares in the Company (representing approximately 4.36 per cent. of the issued share capital) and Mr Nolan is interested in 82,970,327 ordinary shares in the Company (representing approximately 4.36 per cent. of the issued share capital)
Diablo Consulting Limited, a company in which Mr Adam Reynolds, director, has an interest, has subscribed for 7,400,000 ordinary shares in the Company pursuant to the Placing. Following this subscription, Mr Reynolds is interested in 93,400,000 ordinary shares in the Company (representing approximately 4.90 per cent. of the issued share capital).
The Directors' participation in the Placing is a related party transaction under the AIM Rules. Since all of the Directors are participating in the Placing, there are no directors who are independent of the transaction. The Company's nominated adviser, Zeus Capital, considers the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.
Issue of the Placing Shares
The Placing is solely conditional upon admission of the Placing Shares to AIM ("Admission").
Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence on or around 1 December 2011.
The Placing Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares, including the right to receive dividends and other distributions declared following Admission.
Total Voting Rights
For the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital following the completion of the Placing will consist of 1,905,172,453 ordinary shares of 0.1p each with one voting right per share. There are no shares held in treasury.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.
Enquiries:
Orogen Gold Plc Ed Slowey, CEO Alan Mooney, FD +353 1662 8395
Zeus Capital Limited Nominated Adviser and Joint Broker Ross Andrews/Tom Rowley +44 (0)161 831 1512
XCAP Securities Plc Joint Broker John Grant/Karen Kelly +44 (0) 207 101 7070
Hansard Financial PR Guy McDougall/ Nicholas Nelson +44 (0) 207 245 1100
This information is provided by RNS The company news service from the London Stock Exchange More |
||||||||||||||
| 28-11-11 | RNS |
|||||||||||||
|
RNS Number : 8424S Orogen Gold PLC 28 November 2011 28 November 2011
Orogen Gold Plc ("Orogen" or "the Company") Issue of Equity
Orogen Gold Plc (AIM:ORE), the AIM listed mineral exploration company focussed on gold exploration and development of the Deli Jovan gold project in Serbia, announces that it has conditionally placed 231,160,000 new ordinary shares ("Placing Shares") of 0.1p each ("Ordinary Shares") with investors at a price of 0.5p per share thereby raising £1.16 million before costs (the "Placing"). The net proceeds from the Placing will provide additional working capital which will be used, inter alia, to finance further exploration expenditures on the Deli Jovan gold project.
The Placing Shares will represent approximately 12.17 per cent of the Company's enlarged share capital.
Background to and reasons for the Placing
Orogen Gold has an option to earn 55 per cent of the Deli Jovan gold project in Serbia from Canadian Listed (TSX-V) Reservoir Capital Corporation by committing CAD1.5 million (Canadian Dollars) of exploration expenditure on the project. The Company can earn a further 20 per cent by committing an additional CAD2 million of exploration expenditure on the project, which would bring Orogen's total interest in Deli Jovan to 75%.
The net proceeds of the Placing will be used, inter alia, to continue to finance the ongoing exploration expenditures associated with the Deli Jovan gold project. Together with existing cash resources the net proceeds of the Placing will enable the Company to complete the majority of the total earn-in to the Deli Jovan project.
The exploration programme has already achieved access to the historic underground mines at Gindusa and Rusman. The on-going work involves detailed mapping and sampling of the former mines to be followed in Spring 2012 by an initial diamond drilling programme on the property.
The net proceeds of the Placing will also enable the Directors to continue to seek opportunities to introduce a new project or projects to the Company. The Directors are seeking undervalued early-stage gold projects with considerable technical merit which have previously lacked management focus and which through effective exploration programmes provide a high probability to build value in the Company by making a successful commercial discovery.
Ed Slowey, Chief Executive of Orogen Gold comments:
"With our existing cash reserves and new funds raised we will be able to complete the majority of the earn-in at Deli Jovan including an initial diamond drilling programme."
"In the past twelve months we have accessed the two historic gold mines at Gindusa and Rusman. In particular the Gindusa mine workings show that this was a substantial mining operation in the past. The reopening work now facilitates underground mapping and sampling at both former mines which will be followed by a focused diamond drilling programme scheduled for Spring 2012."
"We have also completed detailed soil sampling along the Deli Jovan shear belt. This has identified several highly prospective new gold targets for exploration follow-up."
"We are delighted with our progress so far on the project, which is running to plan, and we anticipate further news over the coming months as our exploration programme progresses."
Directors' Participation
The Directors are participating in the Placing as follows:
Mr John Barry, director, has subscribed for 3,200,000 ordinary shares in the Company pursuant to the Placing. Following this subscription, Mr Barry is interested in 116,555,491 ordinary shares in the Company (representing approximately 6.13 per cent. of the issued share capital).
Mr Ed Slowey, director, has subscribed for 2,200,000 ordinary shares in the Company pursuant to the Placing. Following this subscription, Mr Slowey is interested in 115,555,491 ordinary shares in the Company (representing approximately 6.08 per cent. of the issued share capital).
Balvairde Capital Limited, a company in which both Mr Alan Mooney, director, and Mr Michael Nolan, director, have an interest, has subscribed for 7,400,000 ordinary shares in the Company pursuant to the Placing. Following this subscription, Mr Mooney is interested in 82,970,327 ordinary shares in the Company (representing approximately 4.37 per cent. of the issued share capital) and Mr Nolan is interested in 82,970,327 ordinary shares in the Company (representing approximately 4.37 per cent. of the issued share capital)
Diablo Consulting Limited, a company in which Mr Adam Reynolds, director, has an interest, has subscribed for 7,400,000 ordinary shares in the Company pursuant to the Placing. Following this subscription, Mr Reynolds is interested in 93,400,000 ordinary shares in the Company (representing approximately 4.92 per cent. of the issued share capital).
The Directors' participation in the Placing is a related party transaction under the AIM Rules. Since all of the Directors are participating in the Placing, there are no directors who are independent of the transaction. The Company's nominated adviser, Zeus Capital, considers the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.
Issue of the Placing Shares
The Placing is solely conditional upon admission of the Placing Shares to AIM ("Admission").
Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence on or around 1 December 2011.
The Placing Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares, including the right to receive dividends and other distributions declared following Admission.
Total Voting Rights
For the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital following the completion of the Placing will consist of 1,900,172,453 ordinary shares of 0.1p each with one voting right per share. There are no shares held in treasury.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.
Enquiries:
Orogen Gold Plc Ed Slowey, CEO Alan Mooney, FD +353 1662 8395
Zeus Capital Limited Nominated Adviser and Joint Broker Ross Andrews/Tom Rowley +44 (0)161 831 1512
XCAP Securities Plc Joint Broker John Grant/Karen Kelly +44 (0) 207 101 7070
Hansard Financial PR Guy McDougall/ Nicholas Nelson +44 (0) 207 245 1100
This information is provided by RNS The company news service from the London Stock Exchange More |
||||||||||||||
| 12-10-11 | RNS |
|||||||||||||
|
RNS Number : 0791Q Orogen Gold PLC 12 October 2011
Orogen Gold Plc (the "Company") Holdings in Company
The Company announces that it has received notification that Glyn Hirsch has a holding of 80,000,000 ordinary shares of 0.1p each, which represents 4.78 per cent. of the issued capital of the Company. The Company has also received notification that David Newton no longer has a notifiable interest in the issued capital of the Company. Enquiries
This information is provided by RNS The company news service from the London Stock Exchange More |
||||||||||||||
| Result Pages: 1 | ||||
| Date/Time | Subject | Author | ||
|---|---|---|---|---|
| Fri 19:01 |
1
|
|||
|
|
||||
|
|
||||
|
Thanks to RD for getting the right contact details.
I asked about the licences and where we sit w.r.t. to ownership and protection: The answer to all questions is that the Company does have exclusive title to the Deli Jovan property. However, just a few clarifications: 1. The project is a Joint Venture where Orogen Gold is earning an interest in the project through expenditure on the ground. The exploration permit is held by a Serbian company (Deli Jovan Exploration d.o.o.) currently owned by Reservoir Minerals. The earn-in terms are set out in the Prospectus and on the website presentation. 2. Deli Jovan Exploration has the sole right to explore and develop minerals within the permit area. The current permit remains valid until 31st December 2012 and can be renewed after that. Our rights have been confirmed legally. There can be no challenges. 3. The exploration rights cover the full permit area, including the ground between the two mines. --------------- Best find something and get the renewal sorted.....GLA holders TIE |
||||
| Fri 08:46 |
4
|
|||
|
|
||||
|
|
||||
|
Lets hope this rises on good news and not just speculation like ALL the other times.
Forecast looks good, history looks good, previous sampling results look good...... Come on ORE pull out all the stops and release some really fantastic news - you've already re-financed so surely you owe us now ! Salli3 |
||||
| Thu 23:53 | ||||
|
|
||||
|
|
||||
|
Gold will rise against 'heavily debased' currencies
Troy Asset Management began buying gold at $450 an ounce in 2005 and now has 16pc of its £60m Troy Spectrum fund invested in the precious metal. Troy's co-manager Francis Brooke tells Robert Miller why he believes the value of gold will continue to rise. 4:07PM GMT 02 Feb 2012 http://tgr.ph/ywuulp By SpikeyDT |
||||
| Thu 12:59 |
1
|
|||
|
|
||||
|
|
||||
|
yeah i remember him in SOU stupidly listened.... in the end couldn't read the board for all his trash.
|
||||
|
|
||||
They have not been approved or issued by Interactive Investor Trading Limited.
Editor's Pick:
Markets: The week that was (30/01-03/02/2012)Editor's Pick:
The week ahead...Editor's Pick:
Stock to Watch: Walker GreenbankEditor's Pick:
View from the top: Ortac Resources interviewEditor's Pick:
George Godber - Where to look for eurozone exposureEditor's Pick:
Buy-to-lets to steam ahead in 2012
Share
