The Toronto-based company reports the government of Ghana has assigned rights of the Abosso mine, a former producer, to the joint venture group of Sikaman, Lyco Resources and Ranger Exploration.
Each partner will retain a 30% interest and the government a 10% interest. Sikaman’s interest will be carried through the completion of a feasibility study on a tailings deposit on the property and the first $300,000(US) of exploration work on surface and underground programs.
The tailings feasibility study is expected to be completed by June, 1990.
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