HRC and Inmet file bid on Ethiopian play

A gold operation in southern Ethiopia is attracting the interest of Inmet Mining (TSE) and HRC Development (VSE).

The former hopes to acquire the Legadembi gold mine from the Ethiopian government and is waiting for a response from a

purchase proposal filed with that country’s mines ministry.

HRC intends to acquire a 40% interest in the project from Inmet by funding 40% of the acquisition cost.

The open-pit mine utilizes conventional milling followed by carbon-in-pulp leaching. Since startup in 1990, the mine has produced 400,000 oz. gold.

The in situ resource is estimated at more than 2 million oz. gold.

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