Tag Archives: Kerkebet Deposit

Chalice Sold Zara Gold Project to SFECO and ENAMCO for US$114M

Net cash balance of $82 million after tax with a focus on acquiring new projects

Zara Gold
Chalice Gold turned Red after selling its lucrative Zara Gold Deposit in Eritrea to China

By Chalice Gold Mines,

Chalice Gold Mines Limited (ASX: CHN/TSX: CXN) is pleased to announce that it has today completed the sale of the Zara Gold Project in Eritrea to China SFECO Group for US$78 million plus a deferred payment of US$2 million upon commencement of commercial production at the Koka Gold Mine.

In addition, the Eritrean National Mining Corporation (“ENAMCO”) has settled the remaining balance of US$29 million for its acquisition of a 30 per cent interest in the Zara Project Continue reading Chalice Sold Zara Gold Project to SFECO and ENAMCO for US$114M

NGEx Sells Hambok Project in Eritrea to Bisha Mining Share Company

Money from sell of its Mogoraib Exploration license will enable NGEx Resources to develop its remaining deposit in Kerkebet

By Nevsun,

Nevsun Resources Ltd. (TSX: NSU / NYSE MKT: NSU) (“Nevsun”) is pleased to announce that the Bisha Mining Share Company (“Bisha”), a 60% owned subsidiary of Nevsun, has entered into an agreement (the “Agreement”) to acquire the Mogoraib exploration license (the “Property”) in Eritrea.  Continue reading NGEx Sells Hambok Project in Eritrea to Bisha Mining Share Company