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timhyma

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timhyma

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Re: mortgageman post# 4388

Wednesday, 05/07/2008 4:44:25 PM

Wednesday, May 07, 2008 4:44:25 PM

Post# of 7631
If you are talking about this statement:

AngloGold Ashanti completed an initial due diligence visit to the El Chanate mine in mid-April. A decision on whether or not they exercise their one-time back-in right needs to be made by July 28th, 2008. Exact figures for the price of the back-in cannot be discussed at this time. (These costs are subject to further due diligence and will be disclosed in due course).
http://biz.yahoo.com/prnews/080501/nyth052.html?.v=101

That is the the agreement for Anglo to buy back there interest in the mine (they pulled out and let Capital take all the risk). Now that Capital has met the production numbers, Anglo can fork up the money to get back in- it is a significant amount, and they have about 90 days to decide.


I don't read where they are being bought out.

Small Cap plays: #board-865
Big Board plays: #board-711

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