Shareholders of World Wide Minerals (TSE) have unanimously approved the company’s acquisition of Targa International’s 55% interest in the Baoziwan and Dawuyao gold exploration joint ventures in China’s Shanxi province.
World Wide will pay Targa 6 million shares, representing about 38% of World Wide’s outstanding shares.
The Baoziwan project includes an open-pit mine operated by Chinese ministry partners at a rate of 150 tonnes per day. Gold reserves are estimated at 300,000 oz.
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