Martabe Gold: Newmont sells to Newmont
Yesterday, Agincourt Resources told Australia Stock Exchange that up to A$50 million of payments to Newmont for Martabe gold mining acquisition will be shares in Agincourt. That would make Newmont as the single largest shareholder in Agincourt with 20% shares. So, it's about Newmont selling Martabe to itself. Wonder how Indonesian government would respond this.
Agincourt claimed it controls 100% working interest in Martabe with options up to 30% shares for Indonesian consortium called Dharmawangsa Group.
Martabe is one of the most attractive underdeveloped gold projects in the world with a resource of 5.3 million ounces of gold and 55 million ounces of silver.
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Agincourt claimed it controls 100% working interest in Martabe with options up to 30% shares for Indonesian consortium called Dharmawangsa Group.
Martabe is one of the most attractive underdeveloped gold projects in the world with a resource of 5.3 million ounces of gold and 55 million ounces of silver.
Labels: NEWMONT
READ MORE!!!
posted by yosef at 8:34 AM
1 Comments:
They (government) should be thrilled. Newmont has found someone to develop a mine that was deemed too marginal for themselves. It now has a chance of being built
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