31st Oct 2014 17:11
31 October 2014
Tengri Resources
("Tengri" or the "Company')
Update in relation to offer for substantial shareholder
Tengri Resources (AIM: TEN), the mining exploration and development company focused on low-cost gold-copper projects in Kyrgyz Republic, notes the announcement made today by Padiham Resources Pty Ltd ("Padiham") (a company controlled by Droxford International and Stanhill Capital Partners) in regard to its offer for Robust Resources Limited ("Robust").
Robust is a major (87.3%) shareholder in Tengri. This announcement is therefore intended to serve as an update only to Tengri's other shareholders in relation to the likely de-listing of Robust, a substantial Tengri shareholder.
For further information, please visit www.tengriresources.co.uk or contact:
Tengri Resources | |
Peter Moss | +44 20 3301 9346 |
finnCap Ltd (Nomad) | |
Matthew Robinson/Grant Bergman/James Thompson | +44 20 7220 0500 |
Peterhouse Corporate Finance Limited (Corporate Broker) | |
Heena Karani | +44 20 7469 0936 |
Tavistock (PR and IR Adviser) | |
Nuala Gallagher/ Emily Fenton/ Jos Simson | +44 20 7920 3150 |
Notes to Editors
Tengri Resources (AIM: TEN) is a mining exploration and development company focused on low-cost gold-copper projects in Central Asia.
The Company seeks to add portfolio value by applying a phased approach to project development. Its most advanced project is the Andash Mining Project (TEN 100%) which has JORC compliant resources of 682koz of gold and 170Mlb of copper. Tengri also owns the large scale Taldybulak deposit (TEN 100%), which has SAMREC compliant resources of 6.8Moz of gold and 1.66bnlb of copper, and the Bashkol project (TEN right to earn 70%), located 60km along strike from the producing Kumtor Gold Mine.
The Company listed on AIM in July, 2014. Tengri's board and management are highly experienced in Central Asia, with mining operational and financial career backgrounds.
Related Shares:
FOR.L