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Friday, April 23, 2010

Newmont Mining (NYSE:NEM) Amulsar Gold Project

Newmont Mining (NYSE:NEM) announced Friday it has sold it interest in the in the Amulsar Gold Project, which it had joint ventured with Lydian International (TSX:LYD). They divested of their stake via its Newmont Overseas Exploration Limited wholly owned subsidiary, which sold it to Lydian.

Per terms of the agreement, Newmont Overseas Exploration Limited received 3 million ordinary shares of Lydian along with the first cash payment.

That brings the overall total of ordinary shares controlled or owned by Newmont in Lydian to 8,150,000. That's over 10 percent of the outstanding or issued common shares in the company.

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