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The Lydian is a gold-focused mineral exploration and development company specializing in emerging and transitional environments. Currently the Company is focused on Eastern Europe, primarily in the southern Caucasus region, exploring and developing precious metal assets.
The Company's main focus is a gold exploration and development project at Amulsar in Armenia. Lydian also holds a license covering an early-stage copper-gold prospect known as "Nor Arevik" in the south of Armenia and is actively exploring and seeking opportunities elsewhere in the southern Caucasus region. [Source: ANNUAL INFORMATION FORM FOR THE PERIOD ENDED DECEMBER 31, 2010]
The Lydian International Limited website is at www.lydianinternational.co.uk.
Information Links: Yahoo News and Quotes | Yahoo Message Board | StockCharts | Canadian Insider Trading
companyNote
This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-05-16.
The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.
| General Metric | Value on 2013-06-17 |
|---|---|
| In Situ Metal Value per Share (MVpSh) | US$30.48 |
| Average Ore Value per Tonne | US$43.64 |
| Metal Value Leverage (MVL) | -no stock price- |
| Market Capitalization as a Percentage of Metal Value | - price unavailable |
| Recent Closing Stock Price | C$ [note 1] |
| Fully Diluted Share Count | 109.76 M [note 2] |
| Percentage In Situ Proven + Probable Reserve | 0% |
| Percentage In Situ Measured + Indicated Resource | 45% |
| Percentage In Situ Inferred Resource | 55% |
| Metric | Value on 2013-06-17 |
|---|---|
| Gold Reserves + Resources | 2.42 M oz |
| Average Gold Ore Grade | 1.0 g/t |
| Market Capitalization per oz of Gold In Situ | US$0.00 ( C$0.00 ) |
| Gold Equivalent Ounces Estimate | 2.42 M oz |
| Market Capitalization per oz of Gold Equivalent | US$0.00 ( C$0.00 ) |
Note 1: Conversion rate used: 1 Cnd$ = 0.982273 US$
Note 2: Fully diluted share count estimated based on the share capital, warrants and option counts in the March 31, 2011 Interim Financial Statements.
All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.
| Metric / Metal | Gold | ||
|---|---|---|---|
| Total Counts (reserves + resources) | 2.42 M oz | ||
| Metal Prices in US$ (from 2013-06-17) | $1,384.50 / oz | ||
| Metal Value per Share (MVpSh) Shown in US$. Based on fully diluted share count | $30.48 | ||
| Percentage of Total Metal Value | 100.00% | ||
| Metal Value Percentage Proven + Probable | 0% | ||
| Metal Value Percentage Measured + Indicated | 45% | ||
| Metal Value Percentage Inferred | 55% | ||
The above metal value totals derive from the following projects.
| Project | Location | Metal Value per share (% total) | Average Ore Value US$/t | Gold | PP% | MI% | I% |
|---|---|---|---|---|---|---|---|
| Amulsar | Central Armenia, Armenia | $30.48 ( 100.0% ) | US$43.64 | 2.42 M oz | 0 | 45% | 55% |
| Drazhnje | , Kosovo | $0.00 ( 0.0% ) | 0 | 0 | 0 |
PP%: percentage of metal value from Proven + Probable reserves
MI%: percentage of metal value from Measured + Indicated resources
I%: percentage of metal value from Inferred resources
Note: percentages may no add to 100% due to rounding errors
Amulsar was first identified as an area of potential interest by Lydian geologists in 2005. In March 2006 Geoteam was awarded an exploration licence across the prospect. The first gold at the Amulsar project was discovered by Lydian geologists in rock chip samples collected during June 2006. No previous exploration for gold had occurred on this site or in this area. It is thus a Greenfield not a brown field advanced exploration project. [Source: March 31, 2011, MD&A Filing]
Latest NI43-101 Report: Amulsar was first identified as an area of potential interest by Lydian geologists in 2005. In
March 2006 Geoteam was awarded an exploration licence across the prospect. The first gold
at the Amulsar project was discovered by Lydian geologists in rock chip samples collected
during June 2006. No previous exploration for gold had occurred on this site or in this area. It
is thus a Greenfield not a brown field advanced exploration project.
2010-04-05 (114 pages).
Updates: March 31, 2011 MD&A.
Project Location: Central Armenia, Armenia. View the Amulsar project on a Google Map.
Average Ore Value (all estimate types): US$43.64
Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $13.73 | 1.09 M oz | 1.100 g/t | 32.40 M t |
Estimate notes: See Table 1. Amulsar Au Resource (0.4 g/t Au cut-off) in the March 31, 2011 MD&A.
Resource quantities adjusted for ownership percentage of 95.0%.
0.4 g/t cut-off
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $16.75 | 1.33 M oz | 0.900 g/t | 48.30 M t |
Estimate notes:
Resource quantities adjusted for ownership percentage of 95.0%.
Drazhnje is an historic zinc, lead, silver exploration project with former Yugoslav resources (not JORC compliant) of 4.7Mt at 4.9% Zn, 2.4% Pb and 45ppm Ag in categories A + B + C1 and a further 2Mt at 5.8% Zn, 3.2% Pb and 45ppm Ag in category C2. The project was explored by surface drilling and two levels of underground exploration development but was abandoned in 1989 due to ethnic unrest and was never put into production.
Lydian completed a 2,500m drilling programme at Drazhnje in 2007. The drilling program confirmed the presence of the former Yugoslav resource and identified extensions of base metal and gold mineralisation located along-strike and outside of this resource at the St George and Trpeza prospect areas.
On March 31, 2011 the Company executed a binding Heads of Agreement (the "Agreement") relating to its Drazhnje lead-zinc and silver project (the "Drazhnje Project") in Kosovo. The Agreement was subsequently amended and now provides that Lydian will transfer its licenses for the Drazhnje Project and all of its relevant incountry exploration assets to locally owned Kosovo Metals Group ("KMG") and KMG will assume all ongoing costs and responsibility for future work on the Drazhnje Project. KMG also agreed to develop the property and commence commercial production at a date no later than December 31, 2014. The Agreement provides that, at commercial production, KMG will pay to Lydian CAD $2 million in cash and thereafter pay to it an overriding perpetual 2% net smelter royalty on all metals produced at the Drazhnje Property. The Agreement is intended to ensure further exploration and development at Drazhnje, whilst allowing Lydian to focus on its Armenian operations. [Source: March 31, 2011, MD&A Filing]
Latest NI43-101 Report:
(0 pages).
Project Location: , Kosovo in the editMiningRegionName mining region.