Premier Gold Resources PLC Country Update (9188A)
February 26 2014 - 2:00AM
UK Regulatory
TIDMPGR TIDMTTM
RNS Number : 9188A
Premier Gold Resources PLC
26 February 2014
Embargoed: 0700hrs 26 February 2014
Premier Gold Resources plc
("Premier Gold" or the "Company")
Country Update
Premier Gold (AIM:PGR), the Central Asia-focused gold
exploration and development company, provides an update on steps
being taken to resolve the local issues (described in its
announcement of 4 October 2013) in order that activity on the
Cholokkaindy gold licence can re-commence safely at the outset of
the forthcoming field season.
The Company announced on 4 October 2013 that it had encountered
resistance from factions of local groups seeking to hold up the
work programme at Cholokkaindy illegally. The Company announced
that, notwithstanding Premier Gold's legal right to progress its
work programme on Cholokkaindy, these groups had sought to threaten
and intimidate employees of the Company and its Kyrgyz contractors.
The Company reaffirmed that its first priority is the safety of its
employees and contractors. As such, the Company announced it was
unable to undertake fieldwork operations during the last field
season.
Since October 2013, several members of Premier Gold's board have
conducted meetings with Government officials in the Kyrgyz
Republic, including the Deputy Prime Minister.
In order for Premier Gold to resolve the situation and create a
safe working environment for the progression of the work programme
on its licence, it is necessary to ensure both the support of the
governor of Chui Valley (the region in which the Company's licence
is situated) and, ultimately, the head of the local administration
of Panfila (the immediate surrounding area of the Company's
licence).
To this end the Company has experienced delays at the regional
and local levels arising from a change of both the governor of Chui
Valley and the head of the local administration of Panfila, leaving
both positions unfilled for several weeks. Premier Gold is pleased,
however, to note that Mr Kanat Isayev was appointed as the new
governor of Chui Valley on 20 February 2014; and Mr. Omurbek Nogoev
was elected as the head of the local administration of Panfila on
10 February 2014.
Premier Gold, with the assistance and support of the Deputy
Prime Minister, has already engaged in consultations with both the
new governor and head of the local administration and the Company
is assured that the issues which have affected the Cholokkaindy
licence are being addressed as a priority in order to ensure that
employees and contractors can work safely at Cholokkaindy at the
outset of the forthcoming field season (estimated to commence in
May 2014).
The Company will update shareholders with any material
developments when they occur.
Contacts:
Premier Gold Resources plc
Richard Nolan, CEO 020 7078 9566
WH Ireland Limited (Nominated
Adviser and Broker)
Katy Mitchell 0113 394 6600
Vigo Communications
Ben Simons / Chris McMahon 020 7016 9574
About Premier Gold Resources plc
Premier Gold Resources plc (AIM:PGR) is a gold exploration and
development company listed on the London Stock Exchange. Premier
Gold is focused on gold opportunities in Central Asia, in
particular the Kyrgyz Republic, where the Company's current
project, Cholokkaindy, is located.
Cholokkaindy is a 32 square kilometre licence area located in
the northern Tien Shan, 20 kilometres south of Kara Balta and 80
kilometres southwest of Bishkek. Geological results from Premier
Gold's work programme to date support the view that Cholokkaindy is
part of a large mineralising system, displaying several key
indicators associated with other large gold deposits in the
northern Tien Shan metallogenic belt.
For further information or to sign up to our email 'Alert
Service' please visit:
www.premiergoldresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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