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Randgold (GOLD) Sells 1/4 of its Volta (VTR.TO)

Randgold Resources Sells 5.0 Mln Common Shares In Volta Resources At C$1.59/Share On May 12

5/19/2010 5:03 AM ET

(RTTNews) - Randgold Resources (GOLD: News , RRS.L) said it sold 5 million common shares in Volta Resources Inc. (VTR.TO: News ) at a price of C$1.59 per common share on Wednesday 12 May 2010. The total proceeds payable to Randgold were C$7.95 million, or US$7.80 million. The cash proceeds received will be used for general corporate purposes.

Randgold acquired 20 million common shares in Volta as part of the consideration received for the sale of the Kiaka project in Burkina Faso to Volta, completed on 20 November 2009. Randgold continues to hold 15.99 million common shares in Volta.

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by RTT Staff Writer