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18/11/2011

Lydian Intl says its Amulsar gold project will be a big part of the Armenian economy

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Additional Information
Market: TSX
Sector: General Mining - Gold
EPIC: LYD
Latest Price: C$2.19  (-2.01% Descending)
52-week High: C$3.09
52-week Low: C$1.96
Market Cap: C$270.39M
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Lydian International
www.lydianinternational.co.uk

Lydian International is a mineral exploration and development company with expertise and a proven track record in discovering and developing new gold projects in unfamiliar and frontier settings. The Company is currently focussed on developing its Amulsar gold discovery in southern Armenia. The Amulsar project was a new discovery made by Lydian in 2006 and currently hosts a global resource of 3.2M ounces after its resource update in January 2012. This resource update comprises a total of 1.7 million ounces gold in the indicated category and 0.6 million ounces gold in inferred category (using a 0.4g/t cut-off) from the contiguous Tigranes and Artavasdes areas and 0.5 million ounces gold in the indicated category and 0.4 million ounces inferred category from the Erato prospect which is located approximately 900 meters to the north of Tigranes-Artavasdes. The project remains open in all directions and is currently advancing towards Bankable Feasibility with full production due in the first half of 2014.

Full Lydian International profile here
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Lydian International to receive additional $3.2m investment from IFC

16th Nov 2010, 9:07 am

Lydian International (TSX:LYD) said Monday that existing investor International Finance Corporation (IFC), a member of the World Bank Group, has agreed to further invest $3.25 million in the company.

Under the terms of the deal, IFC will buy around 1.52 million ordinary shares of the company at a price of $2.13 per share, for gross proceeds of C$3.25 million, on a private placement basis.

The IFC placement follows Lydian's sale of 9.3 million ordinary shares to a syndicate of investment dealers in late October, at a price of $2.13 per share for total gain of $19.84 million.

Lydian said it will use the IFC funds for drilling and pre-feasibility studies at its Amulsar gold project in Armenia, as well as for gold exploration elsewhere.

IFC currently holds an approximate 12.5% stake in Lydian on a non diluted basis, and 19.0%  on a fully diluted basis. Once the new placement is complete, IFC will have a 14% interest on a non-diluted basis and an 18.7% stake on a fully-diluted basis.

The investment deal is expected to close today.

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