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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Anglo Pacific Group Plc | LSE:APF | London | Ordinary Share | GB0006449366 | ORD 2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 157.00 | 157.60 | 158.60 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2982I Hidefield PLC 05 March 2003 HIDEFIELD ANNOUNCES ACQUISITION OF OXFORD LAKE GOLD PROJECT, MANITOBA, CANADA, JOINTLY WITH ANGLO PACIFIC GROUP Hidefield plc, The AIM listed mineral explorer and developer is pleased to announce the acquisition of the Oxford Lake gold project in northern Manitoba, Canada, from Newmont Canada Limited, a subsidiary of Newmont Mining Corporation (NYSE & ASX:NEM:TSX:NMC) ("Newmont"), and the simultaneous sale of a 50 percent project interest to Anglo Pacific Group plc. The Oxford Lake project includes 16 contiguous mineral claims, comprising 2720 hectares, in the Oxford Lake/Carrot River area approximately 160 km southeast of the nickel mining centre at Thompson. The claims contain a number of gold prospects in Archean greenstones typical of those hosting major gold deposits elsewhere in the Canadian Shield and similar geologic terrain throughout the world. The most developed of the prospects is the "Rusty" zone on which past work, principally by Noranda in the 1980's, outlined a deposit containing an estimated resource of 1,000,000 tonnes grading 6 grams gold per tonne or about 190,000 ounces. Terms of the Purchase and Sale Agreement with Newmont include a cash payment of C$50,000 and one million Hidefield warrants exercisable at six pence within three years. Newmont also retains a 2.5 percent net smelter royalty on precious metals and a 1.5 percent net smelter royalty on other minerals mined and sold from the property. The claims have excess work credits of nearly C$1,000,000 or sufficient to maintain the project in good standing for more than ten years. The Agreement with Anglo Pacific Group calls for payment of the full cash consideration due Newmont, pursuant to the Purchase and Sale Agreement, in return for a full evaluation and project development plan to be drawn up by Hidefield. Thereafter the Companies will share costs on a 50/50 basis with Hidefield acting as Operator. The initial work programme at Oxford Lake will consist of re-interpretation and evaluation of exploration records of past work on the claims and surrounding areas with a view to expanding the project area. This will be carried out in cooperation with the Manitoba Geological Survey who are implementing a regional investigation of gold metallogeny in northern Manitoba and initially focusing on the Oxford Lake area and its extensive gold mineralization. Enquiries: Cedric Middleton, Hidefield plc Telephone: 020 7647 0907 Mobile: 07768 874 4899 Alex Walters, Walters Associates Telephone: 020 7938 2441 Mobile 07771 713 608 This information is provided by RNS The company news service from the London Stock Exchange END AGRVZLFBXXBFBBL
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