https://www.miningweekly.com
Crushing|Exploration|Flow|Gold|Mining|PROJECT|Flow|Operations
Crushing|Exploration|Flow|Gold|Mining|PROJECT|Flow|Operations
crushing|exploration|flow-company|gold|mining|project|flow-industry-term|operations

Irish junior IMC to buy northern Armenia gold mine

15th April 2021

By: Creamer Media Reporter

     

Font size: - +

Ireland-based IMC Exploration has announced a conditional agreement to buy the Karaberd gold mine, in northern Armenia, thereby expanding the geographical scope of its operations.

London-listed IMC will buy the entire issued share capital of MVI Ireland from Mineral Ventures Invest, a reverse takeover.

MVI holds the entire issued share capital in Assat, which has the operating licence for Karaberd, together with an ore-crushing production facility located near the site of the mine.

IMC chairperson Eamon O’Brien says the acquisition of the Karaberd mine and the development of the Karaberd ore-crushing facility will be transformational for the group, taking it from being a purely junior mining exploration company to being both a mining exploration company and a mining company.

“The proposed acquisition will transform IMC by adding a mining project and will generate cash-flow for IMC from both the monthly contribution to working capital and future mining operations. Furthermore, the geographical reach of IMC will be extended outside of Ireland which may lead to further opportunities for growth of IMC,” he adds.

To date, IMC has been concentrating on its spoils and tailings polymetal project in Avoca, Wicklow, and its gold exploration project in North Wexford.

Shares in IMC surged 70% to 1.43p each on Thursday..

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Projects

Image of lithium ore stockpile
Lithium conversion plant, Australia
Updated 2 hours 31 minutes ago By: Sheila Barradas
Aerial view of the Amapá mine
Amapá iron-ore project, Brazil
Updated 2 hours 31 minutes ago By: Sheila Barradas

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.06 0.096s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: