Gofer Mining plc is pleased to announce that it has acquired 100% of the mining and development rights for the Volnovakha mine, plus all local assets on site for a sum of £ 28 million.

The mine has been acquired as a distressed asset at a lower valuation and the company audited by Deloitte book value is £ 219.2 million.

The mine is capable of producing a 43% concentrate of Platinum, Titanium and Manganese. The ore also contains Tantalum, Zirconium and Tungsten that are economically viable to extract.

Gofer Mining plc will invest £ 80 million into the mining operations over three years.

Contact Jeff using his profile below for any investor queries and Jenny for any media requests reference the current press release.