IMC’s feasibility study on its flagship project in Avoca, Co. Wicklow (PLs 3849 and 3850) is continuing and to that end the Company has signed a Heads of Agreement with Trove Metals Limited which is expected to lead to a joint venture agreement, subject to the approval of the Minister for Communications, Climate Action and Environment.
We are in on-going discussions regarding Koza’s role in IMC. IMC has enjoyed a good working relationship with Koza over several years and, by mutual agreement, the current IMC/Koza joint venture has been set aside. We are assured of and look forward to their contribution to the future of IMC.
The board of IMC has undertaken a full review of its 15 Prospecting Licences. Following this, it was decided that IMC would focus on its 12 most prospective licences, requesting permission from the Exploration and Mining Division of the Department of Communications, Climate Action and Environment to relinquish licences numbers PL 2103, PL 3460 and PL 3668.
IMC is continuing with its application for admission of the whole of its Ordinary Share capital to the standard segment of the Official List of the London Stock Exchange.
Dr. Glenn Millar stated, “This is a very exciting time for IMC. The undertaking of our feasibility study in Avoca, Co. Wicklow should further advance our asset towards production.”
Dublin, 2nd February 2018
The Directors of IMC accept responsibility for this announcement, which has been issued after due and careful enquiry.
Enquiries:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
Keith, Bayley, Rogers & Co. Limited
Mr. Brinsley Holman
Tel. +44 207 464 4098