Moku Goldmines AG
Moku Goldmines AG: Joint Venture agreement between Moku Goldmines AG and SOKIMO
Moku Goldmines AG / Key word(s): Joint Venture Joint Venture agreement between Moku Goldmines AG and SOKIMO Moku Goldmines AG is pleased to announce that it signed a joint venture agreement with SOKIMO in mid-April, under the terms of which the parties set up, in mid-May, a joint venture company – Societe Miniere de Moku – Beverendi (‘SMB’), held 35% by SOKIMO and 65% by Moku. Pursuant to the joint venture agreement, SOKIMO has started the process of transferring two sets of mining exploitation licenses to SMB, with the transfer expected to be finalized shortly. The joint venture of Moku and SOKIMO is for the duration of these licenses, including any renewals and extensions. The licenses transferred adjoin one of Africa’s largest undeveloped gold projects, covering the extensions of gold anomalies from the world class Kibali Gold project which Randgold and AngloGold Ashanti are currently developing in the northeastern Democratic Republic of Congo. Mr. Klaus Eckhof, former managing director of Moto Goldmines, developed the Kibali project from grass roots to around 20 mill oz in resources within a 4 year timeframe, and has vast experience in the northeast province. The two license areas, Moku (713 sq km) and Beverendi (555 sq km), so far have shown similar geological setting and structural controls to Kibali, with excellent potential to discover large scale gold deposits. Several historic mines are located throughout the project areas, and Mr. Eckhof has been instrumental, throughout the selection and acquisition phase, in targeting where these license areas show the most promise for gold occurrences. These press releases / Research/ analysis / content of the website may not be accessed directly or indirectly in the U.S., Canada, Japan and Australia, to U.S. citizens or persons resident in the named countries, yet brought in their territory transmitted, or distributed. Persons into whose possession this document comes should inform themselves about possible legal restrictions on the dissemination of such research and comply with them. Any failure to comply with this restriction may constitute a violation of U.S., Japanese, Australian or Canadian securities laws or the laws of another jurisdiction. End of Corporate News 08.08.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
134821 08.08.2011 |