Renaissance Minerals (RNS) announces acquisition of significant 729,000oz Cambodian gold project from $6b giant, Oz Minerals (OZL)

Posted by on Feb 21, 2012 in News from 708 | 0 comments

The company has announced the execution of a binding agreement to acquire all of OZL’s Cambodian gold assets. The project package includes a 730k oz in situ resource¬† at the Okvau deposit where mineralisation remains open at depth and along strike. OZL has spent $35m on the suite of projects to date but has elected for focus on its Australian projects. The project has been funded by way of a staged series of cash and scrip considerations totalling 26.4m RNS shares and cash of $35.3m subject to the meeting of a number of milestones (please see http://www.renaissanceminerals.com.au for more information)

708capital is participating in the current $12m capital raising. See: Current opportunities

 

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