Falklands : Falkland Gold and Minerals Limited top Change Company Strategy
Submitted by Falkland Islands News Network (Juanita Brock) 17.01.2008 (Article Archived on 31.01.2008)
FGML are to cease operating in the Falkland Islands.
Falkland Gold and Minerals Limited to Change Company Strategy
Falkland Gold and Minerals Limited confirmed yesterday that if, by the year end, no commercially viable minerals had been identified in the Falkland Islands then it intended to deploy its remaining cash balances, and a fully equipped and experienced exploration team with two drill rigs and ancillary equipment to prospective areas elsewhere in the world.
The Company has not been able to identify any mineral deposits of economic interest and announced that the exploration programme in the Falkland Islands has been completed.
A Company press release goes on to say that at the 2008 AGM to be held on the 4th of March a resolution addressing the Company’s strategy will be put to shareholders.
The press release concludes that in accordance with AIM rules - guidance for mining, oil and gas companies, the information contained in this announcement has been reviewed and signed off by the Board of Directors and by the Operations Manager, Mr. Derek Reeves, who has over 23 years of experience as a geologist.