AngloGold Ashanti Interest Acquire 50 percent in Moto Goldmines Stake
October 20th, 2009 | File Under : Companies - Gold - Mineral Exploration
Randgold Resources Ltd. said AngloGold Ashanti Ltd. has acquired a 50 percent indirect interest in Moto Goldmines Ltd. for cash and both companies will be jointly responsible for developing the Moto gold project, which will be operated by Randgold.
Moto shareholders yesterday voted in favor of Randgold’s ‘business combination transaction’ and will exchange their Moto shares for Randgold shares or cash, the company said.
Following completion of the transaction, Randgold plans to move swiftly towards a “bankable feasibility study” on the Moto gold project, it said.
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