Africa Mining Company Mwana Sells Ghana Gold Stake
Dec/25/2009 | Under Exploration - Gold Mine - Mineral Exploration
Mining company Mwana Africa has sold its 70% stake in the Konongo gold exploration project in Ghana under its option agreement with Australian-quoted Signature Metals.
Under the deal, 50m Signature shares have been issued to Mwana. A further payment of 50m shares or A$1m in cash will be paid on delineation of 1m ounces of gold in the measured and indicated mineral resources categories.
A final payment of A$3m in shares or cash will become payable following production of 100,000 ounces of gold from the project.
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