Gunsynd PLC - Investee Company Update – Aberdeen Minerals Ltd
Announcement provided by
Gunsynd Plc · GUN25/03/2024 12:20
Gunsynd plc
("Gunsynd" or the "Company")
Investee Company Update - Aberdeen Minerals Ltd
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce a corporate update from its investee company Aberdeen Minerals Limited ("
The financing comprises:
· A conditional cornerstone investment by Central Asia Metals plc ("CAML") of
· Warrants to be granted to CAML to invest an additional
· An Entitlement Offer to existing shareholders to raise up to an additional
In addition, as part of CAML's investment, and whilst CAML's shareholding remains above 10% of
CAML is a
CAML's overall investment will fund:
· Approximately 10,000 metres of drilling in two phases at Arthrath, aimed at determining the continuity of the high-grade mineralised intersections already identified at depth;
· Should this drilling be successful, the preparation of a Mineral Resource Estimate ('MRE') and scoping level financial studies would be undertaken;
· The continuation of
· Soil geochemistry, ground geophysics and some exploratory drilling of district scale targets and ongoing generative work across the prospective
Completion of CAML's investment is subject to customary closing conditions, as well as:
· The approval of certain resolutions at a general meeting of
· The granting of clearance regarding the
· The granting of merger clearance in respect of notification requirements under the
Gunsynd holds 2,000,000 ordinary shares which were purchased at a price of
About Aberdeen Minerals Limited:
Aberdeen Minerals is a privately owned
More information can be found on
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
For further information please contact:
Gunsynd plc Hamish Harris/ Peter Ruse
|
+44 (0) 78 7958 4153 |
Cairn Financial Advisers LLP James Caithie / Liam Murray |
+44 (0) 20 7213 0880
|
Peterhouse Capital Limited Lucy Williams |
+44 (0) 20 7469 0936
|
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