Stock Market News
Lionsgold increases interest in Finnish joint-venture
AIM-quoted group Lionsgold has increased its interest in its Finnish joint venture to 30% following the injection of additional working capital
Kalevala, Lionsgold's joint-venture with Finnish group Mineral Exploration Network (MENF), received permission to begin test processing on an initial 200-tonne sample from the Kuikka gold deposit to perfect plant recoveries, and sampling procedures and protocols for a planned bulk sampling programme.
The joint-venture is aiming to complete the test sample before 20 June, after which it will seek permission to undertake a 5,000-tonne bulk sample of the deposit.
Kalevala has also received an additional prospecting licence for 1,214 square kilometre area in order to provide it with significant coverage of the gold-prospective Kuhmo Greenstone Belt.
Cameron Parry, Lionsgold's chief executive, said, "Approvals have been received for Kalevala to process 200 tonnes of material from our Kuikka high-grade gold deposit as part of the commissioning of the gold recovery pilot plant for the planned bulk sampling."
"Additionally, a new prospecting licence has been granted to Kalevala immediately resulting in a five-fold increase in the combined area held under licence with Kalevala now holding approximately 1,500km2 of gold prospective ground in Finland, including over 90% of the Suomussalmi Greenstone Belt and significant coverage of the Kuhmo Greenstone Belt," he added.
As of 1440 BST, shares had declined 3.33% to 2.32p.
Kalevala, Lionsgold's joint-venture with Finnish group Mineral Exploration Network (MENF), received permission to begin test processing on an initial 200-tonne sample from the Kuikka gold deposit to perfect plant recoveries, and sampling procedures and protocols for a planned bulk sampling programme.
The joint-venture is aiming to complete the test sample before 20 June, after which it will seek permission to undertake a 5,000-tonne bulk sample of the deposit.
Kalevala has also received an additional prospecting licence for 1,214 square kilometre area in order to provide it with significant coverage of the gold-prospective Kuhmo Greenstone Belt.
Cameron Parry, Lionsgold's chief executive, said, "Approvals have been received for Kalevala to process 200 tonnes of material from our Kuikka high-grade gold deposit as part of the commissioning of the gold recovery pilot plant for the planned bulk sampling."
"Additionally, a new prospecting licence has been granted to Kalevala immediately resulting in a five-fold increase in the combined area held under licence with Kalevala now holding approximately 1,500km2 of gold prospective ground in Finland, including over 90% of the Suomussalmi Greenstone Belt and significant coverage of the Kuhmo Greenstone Belt," he added.
As of 1440 BST, shares had declined 3.33% to 2.32p.
Related share prices |
---|
Lionsgold Limited NPV (LION) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price