[PHNOM PENH POST]
MINING concession buy-outs will make Brighton Mining Limited one of the
Kingdom’s largest miners by concession size in Cambodia’s Mondulkiri
province, according to a company statement issued yesterday.
Brighton,
an ASX-listed company, has completed negotiations with Summer Gold
Investment Pty Limited for mining concessions in Mondulkiri and
Ratanakiri provinces. The acquisition will give the company one of the
largest holdings in Mondulkiri province, according to the statement.
The new Mondulkiri concession will adjoin a previously held concession in the Antrong area, the statement said.
New
York-based SpringTree Special Opportunities Fund announced in May that
it would invest US$5.8 million in equity funding for Brighton’s Antrong
concession, the Post previously reported. Brighton began test drilling
for gold in Antrong in January. Although Brighton said it was in
negotiations for other concessions, the announcement did not give
company names or regions. Brighton Managing Director Jonathan Remta and
Cambodian Association of Mining and Exploration Companies president
Richard Stanger were not immediately available for comment.
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