PRIM Primorus Investments Plc

TIDMPRIM

RNS Number : 6614I

Primorus Investments PLC

27 November 2018

Primorus Investments plc

("Primorus" or the "Company")

Investment in Greatland Gold PLC

Primorus Investments plc (AIM: PRIM, NEX: PRIM) is pleased to advise shareholders that, as per its investment mandate, it has purchased a total of 27m shares in AIM-listed metals exploration company Greatland Gold PLC ("Greatland"; (GGP.L)).

Commencing on the 19(th) of November and finishing on the 26(th) of November, Primorus has purchased 27m shares at an average price of 1.67p per share representing approximately 0.84% of Greatland's ordinary shares in issue for a consideration of approximately GBP450,000.

Greatland recently reported an excellent combined drilling intercept of 275m at 4.77g/t gold and 0.61% copper, including an upper zone of 118m at 3.08g/t gold and 0.84% copper from 459m and a lower zone of 157m at 6.04g/t gold and 0.44% copper from 660m (HAD005) at its 100%-owned Havieron Gold/Copper project in the Paterson Province region of Western Australia.

Previously announced drilling by Greatland at Havieron also yielded excellent results, including 121m at 2.93g/t gold and 0.23% copper from 497m (HAD001) and 21m at 3.79g/t gold 0.44% copper from 418m (HAD003). Further drilling results from Havieron are pending.

Alastair Clayton, Executive Director commented

"As per our investment mandate, which includes natural resources, we have taken (for us) a meaningful stake in Greatland Gold PLC for exposure to what we regard as its hugely exciting Havieron Project and substantial exploration portfolio in the emerging exploration region, the Paterson Province in Western Australia. The Paterson Province is home to the prolific Telfer Gold mine that produced over 425,000oz in 2017/18 and more recently has been the location of the, as yet unquantified, Winu Copper Discovery by Rio Tinto PLC (RIO.L).

The results from Havieron to date are, in my opinion, shaping up as one of the most exciting gold/copper discoveries globally for many years. We are particularly impressed by the very large widths and high-grade nature of the small number of drill holes to date and whilst early days, I believe this discovery has the potential to be a Tier 1 mining asset in a low sovereign-risk jurisdiction should the exploration results continue to confirm the continuity of the mineralisation encountered to date.

I believe that given recent soft equity markets the investment community is largely asleep to the potential of Haveiron and thus the shares in Greatland are, in my opinion, hugely undervalued. As per our name and our mandate, Primorus is happy to invest early and hence we have taken the decision to gain exposure to this world-class exploration project before larger and more risk-averse investors."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

 
 Primorus Investments plc:         +44 (0) 20 7440 0640 
 Alastair Clayton 
 
 Nominated Adviser:                +44 (0) 20 7213 0880 
 Cairn Financial Advisers LLP 
 James Caithie / Sandy Jamieson 
 
 Broker:                           +44 (0) 20 3621 4120 
 Turner & Pope Investments 
 Andy Thacker 
 

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November 27, 2018 09:25 ET (14:25 GMT)

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