![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Landore Resources Limited | LSE:LND | London | Ordinary Share | GG00BMX4VR69 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.45 | -10.23% | 3.95 | 3.90 | 4.00 | 4.40 | 3.90 | 4.40 | 3,987,759 | 15:32:56 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 0 | -1.5M | -0.0066 | -5.98 | 9.99M |
TIDMLND
RNS Number : 5712E
Landore Resources Limited
31 October 2022
LANDORE RESOURCES LIMITED
(AIM Ticker: LND.L)
Completion of Disposal of NSR at Root Lake Property
London, United Kingdom - 31 October 2022 - Landore Resources Limited (AIM: LND) ("Landore Resources" or "the Company") is pleased to confirm that further to the announcement on 24(th) October 2022 (the "Announcement"), ASX-listed Green Technology Metals Ltd ("GT1") completed the acquisition of Ardiden Limited's 20% interest in the Root Lake property (the "GT1 Acquisition") on 28(th) October 2022.
As set out in the Announcement, GT1 had concluded the purchase of 50% (1.5%) of the 3% net smelter royalty ("NSR") that Landore held over the Root Lake Property for CAN$2 million in cash and, subject to completion of the GT1 Acquisition, had agreed to exercise an option to purchase the remaining 1.5% NSR in return for a further cash payment of CAN$1 million.
With all conditions now met, GT1 has concluded the acquisition of the entire 3% NSR. Landore has received a total of CAN$3 million in cash and will no longer have an interest in the Root Lake Property. The cash proceeds of will be used to fund additional exploration activities at Felix, Lamaune and BAM at the Junior Lake property and the Company's ongoing working capital requirements.
Commenting on the receipt of the C$3 million, Chief Executive Office of Landore Resources, Bill Humphries, said:
"The proceeds from the sale of the Root Lake NSR have provided the Company with significant funding, without diluting our shareholders, at a time of difficult market conditions for junior exploration companies. In addition, further funds of C$250,000, plus shares to the value of C$750,000, are expected to be received from Lithoquest on the 6th January 2023, subject to the terms of the option agreement entered into in respect Landore's Miminiska Lake and Kheezik Lake properties, further details of which are set out in the announcement released by the Company on 10(th) May 2021. Landore is well funded into the New Year."
- ENDS -
For more information, please contact:
Landore Resources Limited Bill Humphries, Chief Executive Tel: 07734 681262 Officer Glenn Featherby, Finance Director Tel: 07730 420318 Cenkos Securities (Nominated Advisor and Broker) Derrick Lee / Peter Lynch Tel: 0131 220 6939 Strand Hanson Limited (Financial Adviser) Tel: 020 7409 3494 James Dance / James Spinney / Robert Collins
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
DISBKKBKNBDDPKN
(END) Dow Jones Newswires
October 31, 2022 03:00 ET (07:00 GMT)
1 Year Landore Resources Chart |
1 Month Landore Resources Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions