Tuesday, 19th October 2004 (2751 views)

Newmont Mining has revealed it is to invest $3.25 million in StrataGold to help the firm with its recently announced Sterlite deal.

The private placement financing is made up of 6,500,000 subscription receipts, which each stand for one common share and one half common share purchase, which will be sold by the firm.

Terry Tucker, President and CEO of StrataGold Corporation commented: "Newmont's investment is a strong endorsement of StrataGold's business strategy to acquire advanced stage gold properties."

"Newmont is attracted by both potential of StrataGold's properties and to the exploration team running the programs. We will be a supportive shareholder," David Harquail, head of Newmont's merchant banking division added.

Newmont Mining Corporation is the world's largest gold producer with operations and assets on five continents.

 

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