Stock: Lydian International

TSX:LYD
lydianinternational.co.uk/

Lydian International are developing Amulsar, a gold project in Armenia discovered from the window of a car on the second day on what was originally called the silk road.


Their gold discovery after one season of drilling has amounted to one million ounce oxide inferred resource (NI-43101 compliant) open in all directions with the last hole showing 229m 1gpt! This improved to a 1.4 million ounce oxide Inferred Resource (again NI-43101 compliant), after the second season of drilling. This infers a multimillion ounce potential for the Amulsar project with only 25% being drill tested so far, and 94-97 percent gold recoveries from heap leach tests.


They have a 25 year mining license granted them three years after discovery and infrastructure on which to base a production mine. (high-tension power lines, gas and water pipe-lines).

One of the major shareholders is the International Finance Corporation (world Bank Group) and the European Bank of Reconstruction and Development (EBRD) and Newmont mining

IFC:15.56%
Newmont:9.30%
EBRD:6.88%

With a current market cap of less than 200million and 100million shares its a tightly head stock with about 40% belonging to insiders. Definitely one to watch!