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14

Australian Gold Company To Buy Stake of Chinese Mine

Australian China-focused gold explorer Sino Gold Ltd is going to buy a majority stake in a new joint venture project..

Australian China-focused gold explorer Sino Gold Ltd is going to buy a majority stake in a new joint venture project in Heilongjiang, the north-eastern Chinese province.
Sino Gold announced it will buy between 60 and 65 per cent of the 125 square kilometre Dong'an project in a joint venture with its Chinese partner, Brigade 707.
The parties of the deal have not determined yet, because they need a third-party evaluation of the asset.
Sino chief executive Jake Klein named Dong'an project ?a very exciting acquisition for Sino Gold."
He said work begun by Sino last year to locate "advanced brownfield properties" that could meet certain investment criteria had ranked Dong'an as the top acquisition target.