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IMC Exploration Group #IMC – Update re. Collaboration with Trinity College Dublin
IMC, in association with the Raw Materials Characterization Laboratory at Trinity College Dublin, is continuing studies on the precious metals to be found at IMC’s wholly-owned Avoca deposit and Kilmacoo gold prospect in Co. Wicklow, Ireland. The collaboration between the Raw Materials Research Group at Trinity College Dublin and IMC was announced on 24th September 2019. The aim of the continuing work is further to characterise the form and distribution of gold to assess the extent of syn-tectonic enrichment during the Caledonian Orogeny. IMC’s project represents an opportunity to apply a state-of-the-art microanalytical approach to a major, historical deposit which has significant exploration upside. The study is refining the understanding of metal zonation and sulphide paragenesis within the Avoca orebodies and Kilmacoo Au prospect and it will allow the development of a robust mineral deposit model for gold mineralisation across the Avoca District in particular and South-East Ireland in general.
The project will contribute important mineral chemical data on sulphide phases hosting gold, benefiting exploration and supporting future metallurgical work on the mineralisation at Avoca and Kilmacoo.
Eamon O’Brien commented, “It is significant that our Kilmacoo project at Avoca, Co. Wicklow is being worked on by the Raw Materials Characterization Laboratory of Trinity College Dublin. The presence of an inferred resource of gold, silver, lead, copper and zinc in the Avoca spoils’ and tailings’ project has already been set out in IMC’s Mineral Resource Estimate (“MRE”) announced on 11th September 2019, which was prepared in accordance with the JORC Code (2012). The MRE is of great significance to IMC, with the gold estimate alone coming in at 20,000 ozs. The microanalytical approach will also benefit and support our forthcoming metallurgical testing.”
This regulatory release has been approved by Eur Geol Professor Garth Earls, PGeo, FSEG, who is an independent consulting geologist and a Competent Person as defined in the JORC 2012 reporting code.
Eamon P. O’Brien,
Executive Chairman,
5th November 2019
The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Enquiries:
IMC Exploration Group plc
Kathryn Byrne: +353 85 233 6033
Keith, Bayley, Rogers & Co. Limited
Graham Atthill-Beck: +44 20 7464 4091 / +971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
IMC Exploration Group Plc (IMC) Final Results for Year Ended 30-6-2019
Chairman’s Statement for the year ended 30th June 2019
The Directors of IMC Exploration Group plc (“IMC” or the “Group”) are pleased to present the audited financial results for IMC for the twelve months to 30th June 2019. The consolidated financial statements appearing below (which do not form the full statutory Report and Accounts of the Group) are taken from the Directors’ Report and Financial Statements for the year ended 30th June 2019 being posted to shareholders, a copy of which is available from IMC’s website at https://www.imcexploration.com/.
Highlights of year ended 30th June 2019
During the year under review, the Group continued the drilling programme and evaluation work on PL 3849 in Avoca, Co Wicklow, the drilling programme on the Gold Mine River project on PL 3857 located on the Gold Mine River in Co. Wicklow and the drilling programme on the North Wexford gold project on PL 2551. IMC was pleased to have been in the financial position to carry out a six-month long drilling programme on its licence areas in County Wexford and County Wicklow. Additionally, work continued on the Group’s previously-announced application for the admission of its share capital to the standard segment of the United Kingdom Official List and to trading on the main market of the London Stock Exchange.
Resulting from its activities during the financial year ended 30th June 2019, including the preparation by CSA Global of a Mineral Resource Estimate on the historic Avoca mine site project in Co. Wicklow and the drilling carried out at the North Wexford gold project, a number of significant achievements have crystallised in the first months of the current financial year, ending 30th June 2020. These are detailed below under “Post-Balance Sheet Events”.
Post- Balance Sheet Events
Work undertaken during the financial year ended 30th June 2019 and previous periods has led, during the first half to date of the current year, to some of the most positive and exciting developments for IMC since its incorporation in 2011. On 8th July 2019, the share capital of IMC was admitted to the standard segment of the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange. The admission of the Group to trading on the London Stock Exchange, one of the most influential and prestigious global stock exchanges, significantly enhances the status and profile of the Group.
Since the end of the financial year ended 30th June 2019, IMC has received the Mineral Resource Estimate in accordance with the JORC Code (2012) on its Avoca historic mine site project in Avoca, Co. Wicklow. The Mineral Resource Estimate for the Avoca spoils and tailings is hugely significant. There is further potential to increase the tonnage and grade, not only on this site, but also on the other spoils’ heaps within IMC’s licence area and, to this end, the Group is progressing its exploration work on its spoils and tailings project in Avoca, Co. Wicklow and continues its drilling programme on PL 3849 in Avoca, Co. Wicklow.
In County Wexford, IMC has, since the end of the financial year 30th June 2019, been awarded two additional prospecting licences, PL 1200 and PL 1199, by the Department of Communications, Climate Action and Environment. IMC was delighted to have been granted these licences as they adjoin its existing PL 2551 licence, where IMC had previously encountered high gold grades yielding 353g/t gold (=11.38oz/t gold) from drill hole 12/2551/04. The award of the new licences means the Group now holds three abutting exploration licence areas in Co. Wexford, which it believes should significantly enhance the Group’s North Wexford gold project.
Conclusion
The listing of the Group and the admission to the Main Market of the London Stock Exchange are excellent developments. The Directors believe the scale and potential of the spoils and tailings project at Avoca, along with the Mineral Resource Estimate in accordance with the JORC Code (2012), to be truly transformational for IMC and its shareholders. I look forward to informing shareholders of further progress in the Group and with the projects within its licence areas as and when it arises. I wish to thank my fellow Directors and management team for their contributions to the Group’s progress and look forward to further successes for IMC and its shareholders during the current financial year.
Eamon O’Brien,
Chairman
IMC Exploration Group Public Limited Company
Consolidated Statement of Comprehensive Income
for the year ended 30th June 2019
Continuing Operations
| 2019 | 2018 | |
| Administrative expenses | (366,816) | (921,757) |
| Operating Loss for the period | (366,816) | (921,757) |
| Finance Income | – | – |
| Amount written off Intangible Assets | (284,088) | |
| Amount written off investment | – | – |
| __________ | _________ | |
| Loss for period before tax | (366,816) | (1,205,845) |
| Income tax expenses | (2,047) | 10,991 |
| _________ | _________ | |
| Total comprehensive loss for the period | (368,863) | (1,194,854) |
| ========= | ========= | |
| Loss attributable to: | ||
| Equity holders of the Company | (368,863) | (1,194,854) |
| ========= | ========= | |
| Total Comprehensive Loss attributable to: | ||
| Equity holders of the Company | (368,863) | (1,194,854) |
| ========= | ========= | |
| Earnings per share | ||
| From continuing operations | ||
| Basic and Diluted loss per share (cent) | 0.1 | 0.5 |
All activities derived from continuing operations. All losses and total comprehensive losses for the period are attributable to the owners of the Company.
The Company has no recognised gains or losses other than those dealt with in the statement of comprehensive income.
The Financial statements were approved by the Board of Directors on 29th October 2019 and signed on its behalf by:
On behalf of the board
Eamon O’Brien Andrew Laz Fleming
Director Director
IMC Exploration Group Public Limited Company
Consolidated Statement of Financial Position
for the year ended 30th June 2019
| 2019 | 2018 | |
| Assets | ||
| Intangible assets | 471,117 | 332,127 |
| Property, plant and equipment | 1,723 | – |
| Investments | – | – |
| __________ | __________ | |
| Total Non-Current Assets | 472,840 | 332,127 |
| __________ | __________ | |
| Current Assets | ||
| Trade and other receivables | 39,373 | – |
| Cash and cash equivalents | (30,403) | 212,410 |
| __________ | __________ | |
| Total Current Assets | 8,970 | 212,410 |
| __________ | __________ | |
| Total Assets | 481,810 | 544,537 |
| ========= | ========= | |
| Equity | ||
| Share Capital | 293,107 | 278,107 |
| Share premium | 3,645,171 | 3,490,942 |
| Retained deficit | (3,649,179) | (3,280,316) |
| __________ | _________ | |
| Attributable to owners of the Company | 289,099 | 488,733 |
| __________ | __________ | |
| Total Equity | 289,099 | 488,733 |
| __________ | __________ | |
| Liabilities – Current | ||
| Trade and other payables | 190,664 | 55,804 |
| Current tax liabilities | 2,047 | – |
| __________ | __________ | |
| Total Liabilities | 192,711 | 55,804 |
| __________ | __________ | |
| Total Equity and Liabilities | 481,810 | 544,537 |
The Financial statements were approved by the Board of Directors on 29th October 2019 and signed on its behalf by:
On behalf of the board
Eamon O’Brien Andrew Laz Fleming
Director Director
IMC Exploration Group Public Limited Company
Consolidated Statement of Changes in Equity
for the year ended 30th June 2019
| Share Capital € |
Share Premium € |
Retained Losses € |
Total € |
|
| Balance at 30 June 2017 | 166,610 | 2,489,137 | (2,085,462) | 570,285 |
| ___________ | __________ | _________ | _______ | |
| Total comprehensive income for the period | ||||
| Loss for the period | – | – | (1,194,854) | (1,194,854) |
| __________ | ___________ | __________ | _________ | |
| Total comprehensive income for the period | – | (1,194,854) | (1,194,854) | |
| Transactions with owners, recorded directly in equity | ||||
| contributions by and distributions to owners | ||||
| Shares issued | 111,497 | 1,058,515 | – | 1,170,012 |
| Share issue costs | – | (56,710) | – | (56,710) |
| __________ | ___________ | __________ | _________ | |
| Total transactions with owners | 111,497 | 1,001,805 | – | 1,113,302 |
| __________ | ___________ | __________ | _________ | |
| Balance at 30 June 2018 | 278,107 | 3,490,942 | (3,280,316) | 488,733 |
| __________ | ___________ | __________ | _________ | |
| Total comprehensive income for the period | ||||
| Loss for the period | – | – | (368,863) | (368,863) |
| __________ | ___________ | __________ | _________ | |
| Total comprehensive income for the period | – | (368,863) | (368,863) | |
| Transactions with owners, recorded directly in equity | ||||
| contributions by and distributions to owners | ||||
| Shares issued | 15,000 | 165,781 | – | 180,781 |
| Share issue costs | – | (11,552) | – | (11,552) |
| __________ | ___________ | __________ | _________ | |
| Balance at 30 June 2019 | 293,107 | 3,645,171 | (3,649,179) | 289,099 |
| __________ | ___________ | __________ | _________ |
Net equity is attributable to the holder of the ordinary shares in the Group.
The financial statements were approved by the board of Directors on 29th October 2019 and signed on its behalf by:
On behalf of the board
Eamon O’Brien Andrew Laz Fleming
Director Director
IMC Exploration Group Public Limited Company
Consolidated Statement of Cash Flows
for the year ended 30th June 2019
| 2019 | 2018 | |
| Cash flows from operating activities | ||
| Loss for the year | (368,863) | (1,194,854) |
| Adjustments for: | ||
| Intangible Assets Write Off | – | 284,088 |
| Income Tax recognised in profit and loss | 2,047 | (10,991) |
| Depreciation | 431 | – |
| ________ | ________ | |
| Cash from operations before changes in working capital | (366,385) | (921,757) |
| Movement in trade and other receivables | (39,373) | 81,017 |
| Movement in trade and other payables | 134,859 | (12,138) |
| _________ | _______ | |
| Net cash flow from operating activities | (270,899) | (852,878) |
| Cash flows from investing activities | ||
| Interest received | – | – |
| Proceeds from sale of investments | – | – |
| Taxation | – | – |
| Acquisitions and disposals | (141,143) | (28,550) |
| _________ | ________ | |
| Net cash (used in) investing activities | (141,143) | (28,550) |
| _________ | ________ | |
| Cash flows from financing activities | ||
| Proceeds from the issue of new shares | 169,229 | 1,113,302 |
| Finance income/(expense) | – | – |
| _________ | ________ | |
| Net cash generated by financing activities | 169,229 | 1,113,302 |
| _________ | ________ | |
| Movement in cash and cash equivalents | (242,813) | 231,874 |
| Cash and cash equivalents at beginning of year | 212,410 | (19,464) |
| _________ | ________ | |
| Cash and cash equivalents at end of year | (30,403) | 212,410 |
The financial statements were approved by the Board of Directors on 29th October 2019 and signed on its behalf by:
On behalf of the board
Eamon O’Brien Andrew Laz Fleming
Director Director
The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
IMC Exploration Group plc
Kathryn Byrne: +353 85 233 6033
Keith, Bayley, Rogers & Co. Limited
Graham Atthill-Beck: +44 20 7464 4091 / +971 50 856 9408 /Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 /Brinsley.Holman@kbrl.co.uk
Alan Green CEO of Brand Communications talks about: Thomas Cook CVS Group #CVS Open Orphan #ORPH Bidstack #BIDS IMC Exploration #IMCP
IMC Exploration Group plc (IMC) Collaboration with Raw Materials Research Group at Trinity College Dublin
The Directors of IMC are pleased to announce an update on the collaboration between the Raw Materials Research Group at Trinity College Dublin and the Company. IMC’s Board believes access to world class micro-analytical facilities at Trinity College Dublin is a tremendous development for IMC and its Avoca properties. Trinity College Dublin was established by royal charter in 1592 and is committed to excellence in both research and teaching. Trinity College Dublin hosts one of Europe’s finest raw materials characterisation laboratories with state-of-the-art analytical facilities and full sample preparation facilities for rock crushing and mineral separation.
The Raw Materials Characterisation Laboratory at Trinity College Dublin is undertaking petrographic and micro-analytical work, on samples from IMC drill-holes targeting the gold-rich Kilmacoo zone, and focussing on the paragenetic association of gold and the various sulphide phases. This research is being carried out in coordination with the Geological Survey of Ireland’s ERAMIN II Gold InSight Initiative and the Irish Centre for Research in Applied Geosciences (iCRAG). Preliminary results suggest that significant free gold is present and that, for oxidised materials (i.e., the spoils at Avoca), free gold may be liberated during the oxidation of sulphides. The occurrence of free gold in late cross-cutting (orogenic) veins suggests a potential for further gold occurrences in similar structures across the Avoca belt (McClenaghan et al., 2019; Riegler et al., 2019).
The gold-rich Kilmacoo zone at the northeast end of the Avoca Mine property was identified by Mianrai Teoranta in the 1950s, intersecting 19 metres of quartz veined schist with 2.88 g/t Au and 16.6 g/t Ag (Milner and McArdle, 1992). The site was the focus of further exploration in the 1980s by Riofinex and although no resource was published by Riofinex, Milner and McArdle (1992) state that a (non-compliant) resource of up to 500,000t at up to 2 g/t Au may be present over a 125 metres’ strike length. More recently, further drilling on the property has been carried out by IMC.
The presence of a significant inferred resource of gold, silver, lead, copper and zinc in the Avoca spoils and tailings was set out in IMC’s Mineral Resource Estimate announcement on 11 Sept 2019.
Eamon O’Brien, Chairman commented ‘IMC is delighted to have established this collaboration with the Raw Materials Research Group at Trinity College Dublin. I am extremely pleased that our Avoca gold project was highlighted by Trinity College for their research into resolving the paragenesis of gold in Caledonian terranes across Ireland. We look forward to working with them on this exciting project.’
Eamon P. O’Brien,
Executive Chairman,
Dublin, 23rd September 2019
References
Milner, A. L. and McArdle, P. (1992), Gold Mineralization in the Ordovician Rocks at Kilmacoo, Co. Wicklow: its exploration and geological controls. In ‘The Irish Minerals Industry 1980-1990’. Bowden, A. A., Earls, G., O’Connor, P. G. and Pyne, J. F. (Editors), Irish Association for Economic Geology, p 77-88;
McClenaghan, S.H., Riegler, T., Drakou, F. (2019) Resolving the paragenesis of gold at the Avoca VMS Deposit: Implications for exploration in Caledonian terranes of southeast Ireland. Society for Geology applied to Mineral Deposits, 15th Biennial Meeting, 4p;
Riegler, T., McClenaghan, S.H., Drakou, F., Thomas, H., Wanhainen, C., Bark, G., Bauer, T. (2019) Petrographic and mineralogical study of the Kilmacoo gold occurrence, Avoca District, Southeast Ireland. Society for Geology applied to Mineral Deposits, 15th Biennial Meeting, 4p.
This RIS release has been approved by Eur Geol Professor Garth Earls, PGeo, FSEG, who is an independent consulting geologist and a Competent Person as described in the JORC 2012 reporting code. The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc
Graham Atthill-Beck: +44 20 7464 4091/+971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited
IMC Exploration Group Plc Mineral Resource Estimate
JORC-compliant Inferred Mineral Resource Estimate on IMC’s licence area at Avoca, Co. Wicklow, Ireland (PL 3850) 
CSA Global Pty Ltd (CSA Global) has completed a Mineral Resource Estimate (MRE) for IMC’s Avoca[GA1] historic mine site project located in Co. Wicklow, south-east[GA2] Ireland.
The sample density has allowed the MRE to be classified as an Inferred Resource and is reported in accordance with the JORC Code (2012). The classification of the MRE was carried out taking into consideration the volumes of the spoil heaps, the nature and spacing of the sampling and density data. The MRE is presented below.
Inferred Mineral Resource estimate (all tonnages reported with no cut-off grade applied)
| Spoil Heap | Tonnes (kt) | Cu (%) | Pb (%) | Zn (%) | Au (g/t) | Ag (ppm) |
| Forest of Gold | 2 | 0.57 | 4.31 | 0.83 | 5.2 | 64 |
| Tigroney Lower East | 19 | 0.44 | 0.68 | 0.37 | 0.6 | 13 |
| Tigroney North | 158 | 0.18 | 0.12 | 0.04 | 0.1 | 3 |
| Subtotal (Tigroney East) | 178 | 0.29 | 0.62 | 0.20 | 0.7 | 11 |
| Mt Platt | 852 | 0.13 | 0.37 | 0.12 | 0.2 | 7 |
| Cronebane | 841 | 0.13 | 0.43 | 0.16 | 0.4 | 10 |
| TOTAL | 1,871 | 0.14 | 0.42 | 0.14 | 0.3 | 9 |
Source: CSA Global (2019)
The MRE is based on data from 14 sample pits, dug with an excavator and reflecting representative vertical intervals throughout the spoils’ heaps.
Samples were taken from each sample pit sample stockpile and used to calculate an in-situ bulk density of 1.59t/m3 (assumed to be a wet bulk density). The total tonnage of dumps in Tigroney East, Mount Platt and Cronebane was calculated at 1.871 million tonnes.
An average sample grade for Cu (%), Pb (%), Zn (%), Au (g/t) and Ag (g/t) was assigned to each spoil heap based upon the sample grades from the relevant pit(s).
Mineralogical testing is ongoing and results will be reported when they become available.
There is further potential to increase the tonnage and grade of the MRE by conducting further investigations including basal topography surveying as well as the investigation of other spoil heaps present in the area, particularly at West Avoca.
IMC is to establish an environmental clean-up operation to remove metals from the existing mine waste at the project site.
IMC’s Chairman, Eamon O’Brien, commented, “The Mineral Resource Estimate for our spoils and tailings project in Avoca, Co. Wicklow is of great significance. There is further potential to increase the tonnage and grade, not only on this site but also on other spoil heaps within IMCs licence areas. The scale of this opportunity at Avoca is transformational for IMC and its shareholders. The Mineral Resource Estimate is a significant development and further validates the Company’s strategy. Work continues and the Directors believe this represents an exciting time for the Company and its shareholders.”
Consent to release the report dated September 2019 “JORC compliant Inferred Mineral Resource Estimate on IMC’s licence area at Avoca, Co. Wicklow, Ireland (PL 3850)”, announcing the Mineral Resource, was given by David Williams, Principal Resource Geologist at CSA Global Pty Ltd.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 10th September 2019
The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc
Graham Atthill-Beck: +44 20 7464 4091 / +44 750 643 4107 / +971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited
IMC Exploration Group Plc (IMC) Admission of 17,731,706 Shares
Further to the Company’s announcement on 20th August 2019 of the Placing of 15,000,000 Shares (together with a like number of unquoted Warrants) and its intention to apply for Admission of the Placing Shares and the Fee Shares aggregating 17,731,706 Shares, the Company is pleased to announce that it has received confirmation that these Shares have been admitted and that trading in them will commence on the regulated market of the London Stock Exchange today (Tuesday, 27th August 2019).
As earlier advised, the Placing Shares and the Fee Shares rank pari passu with the existing Shares. The total number of Shares in issue is now 282,745,991 (previously 265,014,285).
Expressions in the foregoing announcement, including “Fee Shares”, “Shares”, “Placing”, “Placing Shares”, “Admission,” et cetera which are denoted by capital letters have the same meanings as those ascribed to them in the announcement dated 20th August 2019, to which reference is made above.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 27th August 2019
The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc
Graham Atthill-Beck: +44 20 7464 4091 / +971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited
IMC Exploration #IMC – Placing; Issue of Shares in Lieu of Fees
The Board of IMC is pleased to announce that it has raised £150,000 (one hundred and fifty thousand pounds Sterling) before expenses by way of a placing (the “Placing”) of 15,000,000 (fifteen million) new ordinary shares of €0.001 each (“Shares”) in the Company at a price of 1 penny per share for cash (the “Placing Shares”), conditional only upon admission of the Placing Shares to the Official List of the FCA and to trading on the regulated market of the London Stock Exchange (“Admission”) of the Placing Shares. Additionally, the Company has resolved to allot to third parties 2,731,706 Shares at the same price (the “Fee Shares”), in satisfaction of professional fees owed by the Company. Alongside each Placing Share will be issued a warrant to subscribe for one further Share at a price of 1p per Share, exercisable for one year from the date of issue (“Warrant”). There is no intention to make application for admission to trading on any public market of the 15,000,000 Warrants being issued with the Placing Shares.
The Placing Shares and the Fee Shares will rank in all respects pari passu with the existing Shares, of which 265,014,285 are in issue. Application is being made for Admission of all 17,731,706 Shares comprising the Placing Shares and the Fee Shares, which is expected to occur on or about 23rd August 2019. The total number of Shares in issue following the Placing and issuance of the Fee Shares will be 282,745,991 (previously 265,014,285).
The net proceeds of the Placing will be applied to general working capital purposes, including acceleration of IMC’s exploration and geological work on its spoils and tailings project in Avoca, Co. Wicklow, Ireland. The Directors note the gold price has recently surpassed $1,500 per troy ounce for the first time in over six years. This is good news for IMC and, in particular, bodes well for its gold, spoils and tailings project in Avoca, Co. Wicklow.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 20th August 2019
The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc
Graham Atthill-Beck: +44 20 7464 4091/+971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited
Alan Green discusses Bidstack #BIDS, Team 17 #TM17, Feedback #FDBK and IMC Exploration #IMC on the Vox Markets podcast
Alan Green discusses Bidstack #BIDS, Team17 #TM17, Feedback #FDBK and IMC Exploration #IMC. The interview is 10 minutes 56 seconds in.
IMC Exploration Group #IMC – Award of Additional Wexford Exploration Licences
The Directors of IMC Exploration Group Plc are delighted to announce IMC has been awarded two additional prospecting licences, PL Area 1200 and PL Area 1199 (both in Co. Wexford) by the Exploration and Mining Division of the Department of Communications, Climate Action and Environment. IMC was encouraged to apply for these licences as they adjoin its existing PL 2551 licence, where IMC had previously encountered high gold grades yielding 354g/t gold (=11.38 oz/t gold) from Drillhole 12-2551-04. IMC now holds three adjacent exploration licence areas in Co. Wexford. The Directors believe that the two new licences should significantly enhance the Company’s North Wexford gold project.
Eamon P. O’Brien, Chairman, commented, “In keeping with IMC’s strategy to establish a significant gold resource, these new additional licences, along with the high gold grades encountered on parts of the adjoining PL 2551, give IMC the capacity immediately to accelerate its exploration programme in this area.”
Eamon P. O’Brien,
Executive Chairman,
Dublin, 12th August 2019
The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc
Graham Atthill-Beck: +44 20 7464 4091/+971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited
IMC Exploration Group #IMC – Further re Placing of Shares
The Board of IMC on 26th July 2019 announced inter alia that it had raised £100,000 (one hundred thousand pounds Sterling) before expenses by way of a Placing of 10,000,000 (ten million) new Shares in the Company at a price of 1 penny per Placing Share, conditional only upon Admission of the Placing Shares, which occurred on 1st August 2019. The terms “Placing”, “Shares”, “Placing Shares” and “Admission” have the meanings ascribed to them in the Company’s announcement of 26th July 2019.
A participant in the Placing was SVS. It was announced on 5th August 2019 that SVS had entered Special Administration under the Banking Act 2009 (as amended) and that the courts had appointed special administrators to resolve the affairs of SVS following its cessation of trading on 2nd August 2019. Details are available via this link: https://www.fca.org.uk/news/news-stories/svs-securities-plc-enters-administration
SVS had irrevocably committed to subscribe for 6,500,000 (six-and-a-half million) Placing Shares in the Placing for a total consideration of £65,000 (sixty-five thousand pounds Sterling), which transaction had been due to settle on 1st August 2019. The Company is seeking confirmation from the special administrators of SVS of the status of the overdue settlement. Further announcement(s) will be made when IMC obtains substantive information from the special administrators of SVS.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 7th August 2019
The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc
Graham Atthill-Beck: +44 20 7464 4091/+971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited