Gold News

Gold Fields completes second Lero Gold investment

Gold Fields has completed its second investment in Lero Gold.

A total of 466,840 Lero Gold shares have been sold the mining giant to raise C$233,420 in capital. A previous investment saw Gold Fields buy five million shares, with a value of C$2.5 million, in November last year.

Under the terms of a joint venture between the two firms, Gold Fields has the right to earn an interest of up to 60 per cent in exploration licenses in various tenements of the Talas Region by funding exploration of up to C$10 million.

It can also increase its interest by a further ten per cent by investing a further C$10 million in a feasibility study.

"With recent positive exploration results from the Taldybulak copper-gold licence and with Gold Fields making this second investment into our company, this can only be seen as yet another major step forward in the development of the company's resources," said Lero president and chief executive Nick Clarke.
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