Since my half-yearly report to shareholders on 30 September 2009, I am very pleased to say that Kryso has made strong progress in advancing its 100% owned Pakrut gold project in Tajikistan. Perhaps the most visible progress has been the achievement of a marked increase in the JORC resources of Pakrut. In November 2009, GeoLogix Mineral Resource Consultants (Pty) Ltd completed an updated JORC Code compliant resource estimate for the project, increasing its total JORC resources by approximately 43% to 2,830,104oz Au (on the basis of a cut-off grade of 0.5 g/t Au). Of this resource, 1,333,539oz Au is in the Measured and Indicated categories.
Since my half-yearly report to shareholders on 30 September 2009, I am very pleased to say that Kryso has made strong progress in advancing its 100% owned Pakrut gold project in Tajikistan.
Perhaps the most visible progress has been the achievement of a marked increase in the JORC resources of Pakrut. In November 2009, GeoLogix Mineral Resource Consultants (Pty) Ltd completed an updated JORC Code compliant resource estimate for the project, increasing its total JORC resources by approximately 43% to 2,830,104oz Au (on the basis of a cut-off grade of 0.5 g/t Au). Of this resource, 1,333,539oz Au is in the Measured and Indicated categories.
I am delighted to be able to report that since I last addressed shareholders on 10 June Kryso's situation has improved markedly. Most notably, the Company has appointed the Beijing General Research Institute for Mining & Metallurgy (BGRIMM) to complete the bankable feasibility study (BFS) for the Pakrut gold project. BGRIMM is a well-regarded and highly experienced Chinese consulting group specialising in mining engineering, mineral processing and metallurgy. The group is ISO9000 certified and has a track record of working successfully with well-known international companies including El Dorado Gold, SinoGold, Kazakhmys, Griffin Mining and ArcelorMittal.
I am delighted to be able to report that since I last addressed shareholders on 10 June Kryso's situation has improved markedly. Most notably, the Company has appointed the Beijing General Research Institute for Mining & Metallurgy (BGRIMM) to complete the bankable feasibility study (BFS) for the Pakrut gold project.
BGRIMM is a well-regarded and highly experienced Chinese consulting group specialising in mining engineering, mineral processing and metallurgy. The group is ISO9000 certified and has a track record of working successfully with well-known international companies including El Dorado Gold, SinoGold, Kazakhmys, Griffin Mining and ArcelorMittal.
Since my half-yearly report to shareholders on 31 July 2008, the world has entered an almost unprecedented period of financial turmoil from which Kryso Resources Plc (‘Kryso’) has not been immune. Faced with a deteriorating financial climate, during the second half of 2008 Kryso was forced to scale back its activities while discussions took place with various potential sources of financing.
I am pleased to report that since my last Chairman’s statement on 26 June 2008, Kryso Resources plc has received further very encouraging results from its resource development programme at the Pakrut gold project (‘Pakrut’) and from its initial exploration drilling at the Hukas nickel-copper project (‘Hukas’). The projects, which are both located in Tajikistan, continue to reward the Company’s investment in them, while Tajikistan remains one of the most attractive operating environments in Central Asia. There appears considerable interest from Russian, Chinese and international companies to invest in the country.
I am pleased to report that since my last Chairman’s statement on 26 June 2008, Kryso Resources plc has received further very encouraging results from its resource development programme at the Pakrut gold project (‘Pakrut’) and from its initial exploration drilling at the Hukas nickel-copper project (‘Hukas’).
The projects, which are both located in Tajikistan, continue to reward the Company’s investment in them, while Tajikistan remains one of the most attractive operating environments in Central Asia. There appears considerable interest from Russian, Chinese and international companies to invest in the country.
Chairman's Statement I am pleased to report that since my last statement on 25 September 2007 Kryso Resources plc completed an internal Pre-Feasibility Study ( ‘PFS’) for the Pakrut Gold project (‘Pakrut’) in February this year based on the updated interim JORC compliant resource statement produced by GeoLogix Mineral Resource Consultants (Pty) Ltd (‘GeoLogix’), the Company’s geological consultants. In addition a TEM survey was completed at the Hukas nickel-copper project (‘Hukas’) in September 2007 by LOGANTEK, a geophysical services company primarily active in Asia; several interesting anomalies were outlined.
Chairman’s Statement I am pleased to report that since my last statement on 13 June Kryso Resources plc has been very active with both the ongoing feasibility study and resource development programme at the Pakrut gold project (‘Pakrut’) and with the initial exploration of the Hukas nickel-copper project (‘Hukas’).
As Chairman of Kryso Resources plc (‘Kryso’ or ‘the Company’), I am pleased to report to shareholders that during the year the Company took significant steps towards production at the Pakrut gold deposit (‘Pakrut’) and was also able to commence exploration at the Hukas (‘Hukas’) nickel-copper prospect.
Chairman’s Statement I am pleased to report to shareholders that during the last six months Kryso Resources plc (‘the Company’) has been extremely active with the ongoing drill programme at the Pakrut Gold Deposit. Most recently, the Company through its 100% owned subsidiary in Tajikistan, LLC “Kuhi Zarrin”, has been awarded the exploration licence for the Hukas Nickel – Copper prospect by the Tajikistan Government.
As Chairman I am pleased to report to shareholders that during the last twelve months Kryso Resources plc (Kryso) has made significant progress at its Pakrut Gold Deposit in Tajikistan. During this period I have spent four months on site both in Dushanbe and at Pakrut; my most recent visit being from April to June this year.
Chairman’s Statement As Chairman, I am very pleased to announce that during the last five months, Kryso Resources plc has made significant and rapid progress at its Pakrut Gold Deposit in Tajikistan. Between May and September an exploration camp, workshops and storage area have been established on site. In addition the portal access and 750m of the original Russian No.1 adit has been re-established and re-lined. The adit, closed for 25 years, is in remarkably good condition and a second access entrance has been cleared for safety and ventilation purposes.
It gives me great pleasure to submit our company’s first Chairman’s Statement. Kryso Resources plc was floated on the AIM section of the London Stock Exchange in early December 2004. £2.6m, or 26m shares, was raised at 10p in addition to the 30m shares held by the founders.
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