Kentor Gold has negotiated a nine month exclusive option to acquire the remaining 10% interest held by Aurum Mining in the Andash Gold-Copper Project in the Kyrgyz Republic.
Once the option has been exercised, it will bring Kentor Gold’s interest in the Andash project to 90%, with the remaining 10% held by a local Kyrgyz company, Invest-centre Talas.
During the option period, Kentor Gold can choose to exercise the option at any time and pay US$1.8 million to acquire the 10% interest held by Aurum. The option period may be extended for a further six months by the payment of US$150,000.
Kentor’s managing director Simon Milroy says, “This option will allow shareholders to benefit from a greater proportion of the Andash project.
“I am confident that the interim Kyrgyz government is taking all steps necessary for the establishment of a legal and democratic government.”
Established with a strong on-the-ground presence in the Kyrgyz Republic for more than 10 years, Kentor Gold acquired an 80% interest in the advanced Andash Project from Aurum Mining when
it became available in 2009, together with the mining fleet already assembled in the country for the project.
Kentor Gold holds its current interest in the Andash Project through a wholly-owned subsidiary Kaldora Company, which will also hold the additional 10% interest.
www.kentorgold.com

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