The Directors of IMC Exploration Group Plc ("IMC" or "the Company") are pleased to announce that the Company's application for Admission to PLUS-quoted has been approved and that the Company's entire issued Ordinary Share Capital of 53,308,507 Shares have been admitted to trading on PLUS-quoted today 12th October 2011.
Key Information
| Sector classification: | Exploration & Mining |
| Principle Activities: | Exploration and mining of mineral resources |
| Corporate Adviser: | LHM Casey McGrath |
| Shares in Issue on Admission: | 53,308,507 Ordinary Shares of £0.001 each |
| Admission Price | 13 pence (Stg) |
| Market Capitalisation at Admission | Stg GBP6,930,106 |
| PLUS Symbol | IMCP |
| ISIN Number | IE00B6WC2H62 |
DESCRIPTION OF PRINCIPAL ACTIVITIES AND GROUP STRATEGY:
IMC Exploration Group Plc was incorporated on 27 June 2011 in Ireland with registered number 500487 and has acquired a wholly owned subsidiary, IMC Exploration Limited, which was incorporated in Ireland on 6 October 2010 with registered number 489863.
The Group has secured full rights to ten licences for base metal exploration in the Irish Base Metal Province and 3 licences for gold exploration in Wicklow/Wexford.
The Group has conducted a review of historic mineral exploration data utilising the extensive experience, knowledge and expertise of the team. Drill targets have been generated on each of the prospecting licences based on exploration models developed by the Group. The Group intends to undertake an exploration programme that includes a comprehensive historical data compilation and review, geochemical sampling, geophysical data capture/processing and ultimately drilling based on these analyses. The Group have raised approximately ?1.3m before listing in order to fund the exploration programme as developed.
Ireland has a long tradition of mining dating back to the Bronze Age. Today, Ireland is internationally renowned as a major zinc-lead mining province. Over the last 50 years a number of significant base metal deposits have been discovered that subsequently became producing mines, including Tynagh in 1961 that was followed by further discoveries at Silvermines, Gortdrum, Navan, Galmoy and Lisheen.
DIRECTORS
Hugh Gibney (Executive Chairman)
Hugh Gibney has been involved in exploration and mining for many years. He first worked for the Semi- State Canadian Company Eldorado Mining & Refining Co. at Uranium City, Beaver Lodge, North Saskatchewan in the early 1960's. Hugh was president of New Signet, a Vancouver based listed company carrying out gold exploration in Nova Scotia and British Columbia.
Hugh also worked on exploration projects in Sierra Leone and Chile. Hugh introduced Inco and Cominco to the Irish exploration industry in the 1980's and was the founding member of the Irish company Oliver Prospecting, now known as Dragon Oil Plc.
Hugh has used the vast experience he gained in exploration and mining industry over the years to bring together the IMC team, and use, direct and pool their individual specialist knowledge to bring the IMC project from inception to its present stage. He is heavily involved in IMC's strategic planning and management.
Glenn Millar (Managing Director)
Glenn Millar holds a PhD in Structural Geology from Queen's University in 1990 as well as an MBA from Open University UK in 2007. His research for his PhD focused on structures in the Irish Carboniferous terrain. He has eighteen years professional experience as a geological consultant to the mining and hydrocarbon exploration industries worldwide. He has managed geological projects in Europe, Middle East, Australia, North and South America.
Glenn formed Exploration Mapping Solutions (ExMap), was a business development manager of eSpatial Solutions Limited and was senior consultant at ERA-Maptec during a professional career which has given him expertise and proficiency in all aspects of geology and management.
His research has been widely cited and he has contributed to several geological and mapping publications.
Liam McGrattan (Executive Director)
Liam McGrattan has a background in sales and finance, and successfully launched Custom Finance Limited in 1989, a specialist leasing company. For the past ten years Liam has specialised in the small cap equities market and has been involved in a number of highly successful private and publicly quoted companies on the PLUS-quoted market and the Alternative Investment Market of the London Stock Exchange.
Liam currently holds directorships in Teknomining Plc and is Chairman of Captive Audience Display Solutions Plc, both of which are quoted on the PLUS-quoted market. He is also Managing Director of Wilhan Limited, an international private investment company.
Nial Ring (Non-Executive Director)
Nial Ring (FCCA) is a fellow of the Association of Chartered Certified Accountants and started his career with Allied Irish Bank plc having graduated from Dublin City University with an Accounting/Finance Degree in 1983. He is a licentiate of the Institute of Bankers and has a Diploma in Financial Services Law from University College, Dublin.
Nial has a background in the financial services industry in Dublin, London and New York and has held senior banking positions with Allied Irish Bank plc and Bankgesellschaft, Berlin. He has also served as General Manager of Barrick Capital Corporation, a wholly owned subsidiary of Barrack Gold based in Dublin's International Financial Services Centre.
Nial holds a number of directorships and has served as a Government appointee on the Board of IDA Ireland, the Irish Government's International Industrial Development Authority. He is currently a director of Teknomining Plc (PLUS) and Great Western Mining Corporation Plc (AIM).
Nial is presently involved in a number of businesses as an executive and investor and is an elected member of Dublin City Council. He is also a member of the Irish Commercial Mediation Association and is a Peace Commissioner appointed by the Irish Minister for Justice, Equality and Law Reform.
Gareth V. Jones (Non-Executive Director)
Gareth V. Jones is a geologist with over 45 years experience in mineral exploration, the majority of which have been spent on the carboniferous geology of the Irish orefields. A graduate of Leicester University in 1973 with a M.Sc. in mineral exploration and mining geology, Gareth commenced his career with the National Coal Board in the UK. During the 70s and 80s he worked in Ireland for Amax, Noranda and Marathon Mining Ireland where he was appointed Chief Geologist. During this period, Gareth was instrumental in the discovery of significant Zn-Pb mineralisation at Harberton Bridge and Ballinalack.
More recently Gareth has worked in a consulting role for base metal and coal exploration and was part of the team exploring and delineating the Galmoy Zn-Pb mine deposits. Gareth has worked with the UNDP in Pakistan and on various exploration projects in South America and Central Asia. He has also worked as a consultant to Arcon and Lundin. He is a past president of the Irish Association of Economic Geology and has numerous publications on carboniferous stratigraphy and mineralisation in Ireland.
Tom Davitt (Non-executive Director & Company Secretary)
Tom Davitt is a geophysicist with over 18 years experience in geophysical surveying, mineral exploration and natural resources projects. He has an honours degree in Geophysical Science from University College Dublin in 1993. After working in Ireland as a geophysicist on geotechnical and Zn- Pb mineral exploration projects, he joined World Geoscience (now Fugro). He worked in Australia, Chile, Argentina and Brazil specialising in airborne geophysical acquisition, processing and interpretation.
More recently, Tom has acted in a consulting role to various major and junior mining companies and Government agencies including Rio Tinto, BHP-Billiton, Anglo-American, Boliden, Geological Survey of Ireland, the Exploration & Mining Division and the British Antarctic Survey. He is a member of the Institute of Geologists of Ireland (P.Geo), the European Federation of Geologists (EurGeol) and is a past-president of the Geophysical Association of Ireland.
Andrew (Laz) Fleming (Non-executive Director)
Laz Fleming BSc, H.Dip. Ed., P. Geo, has 40 years experience in various sectors of the minerals and mining industry, covering a wide spectrum, including 27 years experience in Brazil. He has acted as country manager of Canadian companies (South Western Gold Corp and Hillsborough Resources Corp.) during the 90's and Irish Company (Ovoca Resources plc) during the 80's and early 90's.
Laz has directed and supervised exploration programmes in Brazil, leading to the discovery of additional diamond and gold resources in Mato Grosso, Minas Gerais and Goias States. Laz has carried out, as an independent consultant, geological due diligence investigations on various mineral properties in Brazil, Bolivia, Angola, Guinea, Portugal and Turkey. Presently Laz is active in project generation identifying various mineral investment and exploration opportunities in Brazil, Portugal and Ireland.
Laz is a Euro Geologist (EurGeol) and a professional member of the Institute of Geologists of Ireland (IGI). He is also a founding member in 1973 of the Irish Association for Economic Geology (IAEG). Laz has been a Competent Person for National Instrument 43/101, Canada, AIM and Plus Market (UK). He is fluent in Portuguese and has a good working knowledge of Spanish.
The Directors of IMC Exploration Group Plc are responsible for the contents of this announcement.
CONTACT DETAILS
IMC Exploration Group Plc
Hugh Gibney, Executive Chairman
Mob. Ireland: +353 87 6719332
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Glenn Millar, Managing Director
Mob. Ireland: +353 86 1714790
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Liam McGrattan, Executive Director
Mob. Ireland: +353 87 2745427
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LHM Casey McGrath, Corporate Adviser
Con Casey
Phone: +353 (0)1 4959200
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