Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Angkor Gold agrees to buyback of mine NSR

Angkor Gold agrees to buyback of mine NSR

Angkor Gold agrees to buyback of mine NSR

Canadian mining firm Angkor Gold has agreed to an all-shares buyback of the net smelter return (NSR) interests on a mine in Ratannakiri province that it sold to Indian mining firm Mesco Gold (Cambodia) Ltd for $1.2 million in 2013, the company said in a release yesterday.

Angkor Gold sold an aggregate 2.5 percent NSR interest on the mine to investors the following year, raising $875,000 for operations, and with an option to buy back the interests once Mesco received licensing and moved closer to production. It has now agreed with these investors to buy back this portion of its NSR interest in the mine for an amount equal to 130 percent of their original purchase price, payable in common shares.

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all