Friday, 24th September 2004 (3546 views)

Niagara Mining has announced it has agreed a 40.12 per cent direct investment in AusGold Ghana.

The firm has a capital investment of A$150,000 and the deal has been completed via Niagara's subsidiary Wells Gold.

According to Shaw Stockbroking, AusGold is at present in negotiations to purchase a gold property in the Ashanti Gold belt, which is an advanced exploration property and has had a number of gold resources discovered there.

Within 12 months, Wells Gold will be given the option to up its stake in Wells Gold to 85 per cent.

 

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