Dec 6 (Reuters) - Avnel Gold Mining Ltd:
* Iamgold and Avnel Gold announce an option jv agreement on the fougadian
permit to the south of and abutting avnel's large kalana exploitation permit
* Says Iamgold has option to acquire up to an initial 51% interest in its 90%
interest in the fougadian exploration permit
* Says under terms of jv, Iamgold will fund,satisfy expenditure requirements of
fougadian exploration permit
* After delivery of feasibility study, Iamgold will undertake to
procure/provide project financing to develop mining operations
* Says upon delivery of a pre-feasibility study, Iamgold will be entitled to
increase its interest to 65%
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Iamgold and Avnel Gold announce an option jv agreement on the fougadian
permit to the south of and abutting avnel's large kalana exploitation permit
* Says Iamgold has option to acquire up to an initial 51% interest in its 90%
interest in the fougadian exploration permit
* Says under terms of jv, Iamgold will fund,satisfy expenditure requirements of
fougadian exploration permit
* After delivery of feasibility study, Iamgold will undertake to
procure/provide project financing to develop mining operations
* Says upon delivery of a pre-feasibility study, Iamgold will be entitled to
increase its interest to 65%
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.