Orogen Gold issues 36.4m shares to DEM for drilling services

27th Mar 2015 09:28

Gold explorer Orogen Gold has issued 36.4m shares to DEM Geosciences SAL to cover costs related to diamond drilling services the latter carried out in 2014.The London-listed group said each share was priced at 0.2p, giving the transaction a total value of £72,800 and confirmed the deal was the final share issue it will make towards the payment.In a statement released on Friday, the mining group added that DEM will not dispose of any of the new shares for a two-year period after committing to a lock-in agreement.Orogen shares were up 5% to 0.063p at 09:39 on Friday.