Another mining company, British-based Orogen Gold, has set up shop in Armenia’s Syunik region after signing a Memo of Understanding (MOU) with the Armenian company Georaid regarding the Mutsk gold project in January, 2013.

Just days ago, Orogen Gold CEO Ed Slowey had announced that a new gold discovery had been confirmed a Mutsk.

In an August 30 interview with BRR Media, Slowey sounded ecstatic over the new gold discovery at relatively shallow depths.

The company says it is already engaged in soil sampling to gauge the extent of the gold zone in the 24 square kilometre exploration site situated three kilometres from the village of Mutsk.

The MOU further gives Orogen an option to earn an 80% interest in the property by spending a total of $2.5m by end-August 2016.

P.S. - All we know about Georaid is that the company director is Hovsep Hovsepyan, a citizen of Russia. Hetq contacted Orogen, requesting any possible information as to the shareholders of Georaid. The response of Guy McDougall (Walbrook Public relations) was, "I am sorry, I can only assist ( and am very happy to) on matters related directly to Orogen."