Russian Polymetal acquires 100% of Armenia's Lichkvaz property November 16, 2015 - 13:00 AMT PanARMENIAN.Net - Russian gold and silver producer Polymetal said it was taking 100% control of the Lichkvaz property in Armenia, Digital Look reports. Polymetal said it had bought the remaining 75% of the property's holding company for 1.08m Polymetal shares equal to $9.7m. It said the move was taken after successful results of exploration drilling performed during surveying season 2015. Drilling has been completed, with 15,800 metres drilled across 70 diamond drill holes. To date, samples taken from 20 drill holes have been analysed, Polymetal said. Based on the first data obtained, nine productive intersections have been discovered with the average grade of 6.4 grammes per tonne. Polymetal said it planned to further analyse exploration data obtained during 2015 and release a resource estimate in the second quarter of 2016. Lichkvaz is located in the Meghri area of the Syunik province of southern Armenia, 380 km south of Yerevan.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news U.S. welcomes efforts to define Armenia-Azerbaijan border  The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel.Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide.Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan.Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. |
