Angkor Gold agrees to buyback of mine NSR
Angkor Gold agrees to buyback of mine NSR
Canadian mining firm Angkor Gold has agreed to an all-shares buyback of the net smelter return (NSR) interests on a mine in Ratannakiri province that it sold to Indian mining firm Mesco Gold (Cambodia) Ltd for $1.2 million in 2013, the company said in a release yesterday.
Angkor Gold sold an aggregate 2.5 percent NSR interest on the mine to investors the following year, raising $875,000 for operations, and with an option to buy back the interests once Mesco received licensing and moved closer to production. It has now agreed with these investors to buy back this portion of its NSR interest in the mine for an amount equal to 130 percent of their original purchase price, payable in common shares.
