webmaster
© Copyright DEHAI-Eritrea OnLine, 1993-2010
All rights reserved
From: B-Haile (eritrea.lave@comhem.se)
Date: Tue Sep 07 2010 - 20:20:28 EDT
Chalice Gold Mines Limited
6 September 2010
ASX ANNOUNCEMENT
Eritrea Regional Joint Venture
Chalice Gold Mines Limited (ASX: CHN) advises that it has informed Newmont Mining Corporation that Chalice will not proceed with a planned regional joint venture agreement in Eritrea.
The proposed JV, which was outlined in an ASX announcement on July 23, 2010, remained subject to formal documentation, which has not been completed.
Following the current fully underwritten rights issue Chalice will have cash of ~$16 million and therefore the Board has decided it would be in shareholder's best interests if Chalice explored the highly prospective tenements in its own right. The tenements are currently under application.
TIM GOYDER
Executive Chairman
For further information, please contact: Mr Tim Goyder, Executive Chairman Dr Doug Jones, Managing Director
Chalice Gold Mines Limited
Telephone (+618) 9322 3960
Investor Relations (North America):
Dr Toni Davies
Chalice Gold Mines Limited
Telephone +1 416 5664378
No virus found in this outgoing message.
Checked by AVG - www.avg.com
Version: 9.0.851 / Virus Database: 271.1.1/3119 - Release Date: 09/07/10 08:34:00
----[This List to be used for Eritrea Related News Only]----