OCE Ocean Res.

RNS Number:5153H
Ocean Resources Capital HoldingsPLC
18 January 2005


OCEAN RESOURCES CAPITAL HOLDINGS PLC


Net Asset Value per Ordinary Share - 31 December 2004

Ocean Resources Capital Holdings Plc ("Ocean" or "the Company") announces that
the unaudited net asset value of its Ordinary Shares as at the close of business
on 31 December 2004 was 33.07p.

Ocean is also pleased to announce that on 24 December 2004, Archipelago
Resources Plc completed a placement of 11,450,626 ordinary shares to the Company
at 33.3p per share.  The proceeds from this placement have been used to purchase
the gold processing plant and equipment from Arlington Group Plc, which had
previously acquired them, on Archipelago's behalf, from Barrick Gold's Chilean
subsidiary.  Archipelago also announced on 29 December 2004 that it had raised a
further #2.0 million in working capital through the placement of a further
6,666,700 ordinary shares, a placement in which Ocean did not participate.

Archipelago is currently completing due diligence studies as a necessary
pre-requisite for project finance of its Toka Tindung Gold Project, where a
resource of 1.75m oz gold equivalent has been established.  At least 900,000oz
of this will be mineable by open pit and the project is targeted to produce a
minimum 160,000 oz per year at a cash cost of US$267 per oz over an initial 6
year mine life, commencing in early 2006.

Archipelago have also recently announced that the Toka Tindung Gold Project,
located in North Sulawesi, was unaffected by the Asian tsunami.

Ocean's holding of 31,029,197 now represents 46.4% of Archipelago's enlarge
share capital, following both issues.

Additionally, Ocean is also please to announce that on 30 December 2004,
Rheochem Plc was admitted to trading on AIM, following a #4.7 million capital
raising by Williams de Broe.  The funds raised by the issue will be used to
expand Rheochem's products and services into new geographic regions.

Following the capital raising, Ocean now holds 35.7% of Rheochem's enlarged
share capital.


For further information, please contact:
David Hutchins or Merfyn Roberts at Ocean Resources Capital Holdings Plc
Telephone: 020 7332 2070


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
NAVILFLRLEITLIE

Ocean Resources Capital (LSE:OCE)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Ocean Resources Capital (LSE:OCE)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024