The concessions are based in the
The company said the estimated coal resource for the larger concession is roughly 80 million tonnes and for the smaller concession around 10 million tonnes, but the company noted that these estimates are not based on systematic exploration.
Lion's major asset is
The site is projecting output of 25 kilograms of gold per month during its phase one expansion, which is scheduled for completion during the third quarter.
The company said that as a result of the investments, it has now met the AIM rules for investment companies, and the investments will be managed with a view to returning cash to shareholders.
It added that it is continuing to review a number of other investment opportunities and any further announcements will be made when necessary.
Mercom Oil shares were down 17% to
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