Tweet
EBRD INVESTS IN ARMENIAN GOLD MINE DEVELOPMENT PROJECT
news.am
Aug 4 2011
Armenia
Lydian International, the company having project in Armenia,
has received a C$2.13 million cash boost as the European Bank for
Reconstruction and Development (EBRD) increased its stake in the
company.
These funds can only be used on company's Armenian projects and will
be allocated to its Armenian subsidiaries, Proactiveinvestors.co.uk
reports.
The company's main project is the Amulsar gold mine development
in Armenia.
"Last week Lydian unveiled the positive findings of a preliminary
economic assessment (PEA) covering the Tigranes and Artavasdes areas
of the Amulsar project. It was yet another boost for the impressive
deposit which currently has a 2.5 million ounce gold resource and
is still open in all directions and more drilling is scheduled
this summer.
Beyond this assessment a further 'sensitivity case' was considered to
include the additional 460,000 potentially mineable ounces of gold
from the Erato area at Amulsar. In this scenario the project's NPV
increases to US$614 million," the article reads.
news.am
Aug 4 2011
Armenia
Lydian International, the company having project in Armenia,
has received a C$2.13 million cash boost as the European Bank for
Reconstruction and Development (EBRD) increased its stake in the
company.
These funds can only be used on company's Armenian projects and will
be allocated to its Armenian subsidiaries, Proactiveinvestors.co.uk
reports.
The company's main project is the Amulsar gold mine development
in Armenia.
"Last week Lydian unveiled the positive findings of a preliminary
economic assessment (PEA) covering the Tigranes and Artavasdes areas
of the Amulsar project. It was yet another boost for the impressive
deposit which currently has a 2.5 million ounce gold resource and
is still open in all directions and more drilling is scheduled
this summer.
Beyond this assessment a further 'sensitivity case' was considered to
include the additional 460,000 potentially mineable ounces of gold
from the Erato area at Amulsar. In this scenario the project's NPV
increases to US$614 million," the article reads.