Moydow Mines fka MOY

[amarksp]

Newmont closes on Aquiline Resources today...

Per Aquiline Jan 29 news release:
"The transaction is expected to close in early April, 2003."
Thus, today being July 11, about 90 days later than Aquiline expected per their press release...

TORONTO, July 11 /CNW/ - Aquiline Resources Inc. is pleased to announce that it has completed the transaction announced January 29th, 2003 with Newmont Mining Corporation (NYSE: NEM - News) and Newmont LaSource Developpement, an affiliate of Newmont Mining Corporation (collectively "Newmont"), to acquire Newmont's Calcatreu gold project in Argentina.
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There does not appear to be any wiggle room for this NEM/MOY transaction closing after 120 days, the way I read it:

"It is anticipated that the sale of Ntotoroso will be completed as soon as possible and in any event within 120 days, subject to TSX approval, appropriate due diligence and other regulatory and corporate approvals."

However, note this is a MOY press release only, NEM never issued a press release regarding the MOY deal.
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NEM mentions/lists Moydow in their 6/1 European UBS Warburg presentation, see slide 24:
http://media.corporate-ir.net/media_files/NYS/NEM/presentations/European_RoadshowJune_2003/sld024.ht...
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Bottom line, I still believe NEM closes this MOY deal by July 22, the 120 day deadline...

FWIW, a close by July 23, 2003 will mark one full year of delay by NEM since the Rank Production Agreement expired/came up for re-ratification:
"TORONTO, Jul 23, 2002 (BUSINESS WIRE) -- Brian Kiernan, President and Chief Executive Officer of Moydow Mines International Inc. (CA:MOY) announced today that, after discussion with Newmont Mining Corporation, it has been agreed to extend for two months the terms of the Rank Production and Development Agreement., which was originally signed in July, 2000. Rank Mining Company Limited holds a 30-year mining lease on the Ntotoroso property in the Yamfo-Sefwi gold belt in Ghana. Moydow and Newmont both have a 50% interest in Rank Mining.

The Rank agreement is a supplement to the original Joint Venture and governs the way in which the Ntotoroso property will be brought into production in conjunction with the Newmont owned Yamfo-Sefwi property. The agreement has a two year term expiring on July 24, 2002."