Market Wire (press release) (press release)
Lydian International Ltd.
Aug 20, 2009 08:30 ET
Lydian Centralizes Head-Office Close to European Operations in
Jersey-Opens Business Development Office in TorontoTORONTO,
ONTARIO–(Marketwire – Aug. 20, 2009) – Lydian International
Ltd. (TSX:LYD) ("Lydian"), a diversified mineral exploration and
development company, today announced that it had met the requirements
and guidelines for registration as a Jersey-based enterprise.
Jersey is a pro-business Island offering an internationally
competitive corporate tax regime, doorstep access to major banks and
investment funds, easy access to capital markets in Europe and North
America and direct airport access to investors in London, Zurich,
Geneva and Paris. For a Toronto-listed company it is important to
strike a balance between proximity to operations and its North
American shareholder base. It was considered equally important for
Lydian to boost its continuing presence in Toronto and to service
investor needs by employing the North American market expertise of
Pro-Edge Consultants Inc. ("Pro-edge").
"Jersey is a highly regarded jurisdiction and an ideal business
environment for a centralized head office," said Tim Coughlin,
Lydian’s President and CEO. "The fiscal regime is competitive and the
island provides direct access to some of our most important markets as
well as easy links to our operations in Armenia and
Kosovo. Maintaining a presence in Toronto is of course a necessity for
any TSX listed company. Lydian has a director based and residing in
Toronto and a business development presence by way of its relationship
with Pro-Edge Consultants".
"Jersey encourages high value low resource business and having Lydian
establish a head office is a welcome example," said Wayne Gallichan,
Director, Inward Investment & International Trade at Jersey Enterprise
().
Pro-Edge Managing Partner Tracy Weslosky commented: "Lydian offers a
high quality investment opportunity that builds industry reputations –
leadership backed by a compelling story and driven by a strong
business model."
About Lydian International
Lydian is a diversified mineral exploration and development company
with expertise employing "first mover" strategies in emerging
exploration environments. Currently Lydian is focused on Eastern
Europe developing advanced precious and base metal assets in Armenia
and in Kosovo (under UNSCR 1244). The two main projects are gold at
Amulsar in Armenia, and zinc, lead, silver and gold at Drazhnje in
Kosovo. Lydian also has a pipeline of promising gold and base metal
exploration projects in the Balkans and Caucasus regions, and operates
a 50/50 gold and copper exploration joint venture with Newmont
Overseas Exploration Limited, a wholly owned subsidiary of Newmont
Mining Corporation in the south Caucasus region.
Lydian’s management team has a track record of success in grassroots
discovery, in acquiring and developing undervalued assets, and in
building companies. Lydian has a strong social agenda and a unique
understanding of the complex social and political issues that
characterise emerging environments. The Company’s three largest
shareholders are the International Finance Corporation (IFC), a member
of the World Bank Group, Newmont Mineral Holdings B.V. (owned by
Newmont Mining Corporation), and the European Bank for Reconstruction
and Development (EBRD). More information can be found on Lydian’s web
site at
Dr Tim Coughlin, MAusIMM; is the Qualified Person overseeing Lydian’s
exploration programmes. Dr. Coughlin has supervised the preparation of
the technical information contained in this press release.
Lydian employees are instructed to follow standard operating and
quality assurance procedures intended to ensure that all sampling
techniques and sample results meet international reporting
standards. All assay work for the released results was carried out by
ALS Chemex analytical laboratory in Rosia Montana, Romania, in Perth,
Australia, or in Vancouver, BC. Please see Lydian’s web site for more
information.