LYDIAN INTERNATIONAL TO BUY OUT STAKE IN ARMENIAN GOLD PROJECT FROM NEWMONT MINING
CanadianBusiness.com
http://www.canadianbu siness.com/markets/market_news/article.jsp?content =D9E625OO0
March 1 2010
WASHINGTON (AP) – Mining company Lydian International Ltd. said
Monday it would buy out Newmont Mining Corp.’s interest in gold
exploration project.
Toronto-based Lydian said a subsidiary will purchase all of Newmont
Mining’s interest in a joint venture that includes a gold discovery
in Armenia. The deal is expected to close in 60 days.
Under the deal, Lydian will pay $15 million to Newmont, plus royalties
and 3 million shares.