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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Archipelago Res | LSE:AR. | London | Ordinary Share | GB0033551721 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 57.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:4682J Archipelago Resources PLC 09 March 2005 ANNOUNCEMENT ISSUE OF SHARES to OCEAN RESOURCES CAPITAL HOLDINGS PLC In accordance with the placing of 13,513,514 Ordinary Shares of 1p each in the Company at a issue price of 33.3 pence per share to major shareholder Ocean Resources Capital Holdings plc (Ocean) announced in the Company's Interim Report, the Company has today issued 2,062,888 shares comprising the final tranche of the placing. The Company has applied for the shares to be listed on AIM and admission is expected on 14 March 2005. This issue will increase Ocean's shareholding to 33,092,085 shares representing 48.03% of the issued share capital of the Company The funds raised by this issue will be used to replace working capital used by the Company to complete purchase of plant and equipment from Barrick's El Tambo Gold Project in Chile. This plant and equipment has been cleaned and packed and subject to completion of project financing, is awaiting shipment to Indonesia and re-erection at the Company's Toka Tindung Gold Project in Sulawesi. Due diligence studies being undertaken for prospective project financiers of the Company's Toka Tindung Gold Project, are near completion. The project has a resource of 1.75M oz of gold equivalent of which at least 0.9M oz will initially be mineable by open pit. Production is targeted at 160,000 oz per annum for an initial 6 year mine life commencing in mid 2006. Archipelago is a mining company listed on the AIM market of the London Stock Exchange. The Company's principal activities are gold mining and exploration in Indonesia (as 85% owner of the Toka Tindung Gold Project in Sulawesi), Vietnam (as majority party in the Cam Thuy/Ba Thuoc joint venture with Vimico a Vietnamese Government mining company) and the Philippines (as 100% option holders over the Corplex tenements). Further Info: Colin Loosemore, Managing Director, Archipelago Resources Plc. Tel: 00-618-9364-8301 Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: 020-7628-5518 www.mining-investor.com/arch This information is provided by RNS The company news service from the London Stock Exchange END IOELVLFBEXBBBBD
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