Greenstone Resources has acquired a gold property in Costa Rica with both open pit and underground reserves. The company is purchasing a 100% working interest in the El Recio project for $165,000(US) and a gross royalty which varies with the price of gold. Greenstone expects to commence drilling of the open pit zone late in May.
The Compagnie Royale Asturienne des Mines in Belgium is taking over Union Miniere’s 8% interest in the Australian mining company Pancontinental Mining. Proceeds from a new share issue will go towards the purchase. Pancontinental, set up in 1970, operates gold and coal mines in Australia, as well as natural gas and oil fields in Canada. It is also engaged in exploration for precious and strategic metals.
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