Canadian mining firm Angkor Gold Corp and has received approval from the Ministry of Mines and Energy to proceed with a joint mineral exploration project with Renaissance Minerals (Cambodia) Ltd on Angkor’s wholly owned Koan Nheak property in Mondulkiri province, the company announced in a press release.
In July, Renaissance, a subsidiary of Australia-listed Emerald Resources NL, agreed to invest $2 million into exploration and development over a two-year period, and provide a $200,000 cash payment to Angkor, to acquire a 51 percent participating interest in the Koan Nheak licence. The company has also reserved the right to enlarge its interest upon completion of the initial earn-in option.
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