Angkor Gold ends deal with miner Blue River

The Phnom Penh Post - - BUSINESS -

CANA­DIAN min­ing firm Angkor Gold Corp has ter­mi­nated its earn-in ex­plo­ration agree­ment with Van­cou­ver-based ju­nior min­ing firm Blue River Re­sources Ltd, putting an end to the lat­ter’s drilling on Angkor’s gold- and cop­per-rich Ban­lung Ten­e­ment, ac­cord­ing to a state­ment re­leased by Angkor yes­ter­day. This agree­ment and four other li­cences were each re­newed and ex­tended for three years by Angkor in March. Prior to the abrupt can­cel­la­tion of the Blue River con­tract, Angkor had five ex­plo­ration li­cences cov­er­ing ap­prox­i­mately 983 square kilo­me­tres of land in Cam­bo­dia. Un­der the terms of the now-ter­mi­nated con­tract, Blue River had com­mit­ted to in­vest $3.5 mil­lion over a fouryear pe­riod in ex­change for up to 50 per­cent in­ter­est in the li­cence.

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