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IN BRIEF: IMC Exploration shares soar on Karaberd mine owner purchase

1st Nov 2023 10:15

IMC Exploration Group PLC - Dublin-based exploration company - Completes acquisition of entire issued share capital of MVI Ireland SRO, owner of Assat LLC which owns the operating licence for the Karaberd gold mine in Northern Armenia plus ore crushing facilities. Completion signified by admission of new shares and readmission of existing shares to trading on the London main market, effective early on Wednesday. Upon admission IMC has 685.1 million shares in issue. IMC originally agreed to buy Karaberd Mine in April 2021 but switched in October 2022 to acquiring MVI. The transaction has seen repeated delays due to local Covid-19-related factors, and the deadline in January was extended for the third time to October 14.

Current stock price: 1.25 pence, up 28% in London on Wednesday

12-month change: up 98%

By Emma Curzon, Alliance News reporter

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