Kryso Resources (LON:KYS) announced today it has appointed Evolution Securities as nominated adviser to the company and joint broker.
Kryso has gold and nickel-copper projects in Tajikistan.
The firm's 100% Pakrut Gold Project lies 112km northeast of the capital Dushanbe in the Tien Shan gold belt and has total JORC compliant gold resources of around three million Ounzes (assuming a zero cut-off grade).
Previous drilling there has returned significant intersections, including 123.7m at 6.1g/t Au, 42m at 11.2g/t Au and 50m at 5.7g/t Au.
Last month Proactive Investors highlighted the positive aspects of the Pakrut project, which already has a "well ticked checklist of the usual mine development milestones".
It has a comparatively large resource compared to its peers and Kryso has already signed off a bankable feasibility study, which anticipates total production of 857,000 ounces of gold and 123,000 ounces of silver over a 14-year mine life. First gold is pencilled in for the second half of 2012.
The BFS assigned a US$227 million net present value to Pakrut based on a US$1,250 an ounce gold price.
It also put the internal rate of return at 58 percent, giving the project a payback period of less than three years. The total development total capital costs were estimated at US$108 million.
Kryso already has the majority of project financing in the works.