The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Thursday, 2nd December 2004 (4009 views)

Celtic Resources has announced that it has entered into a strategic relationship with Barrick Gold Corporation to develop current and future gold assets at Celtic.<br/><br/>Under the deal Barrick will provide £14.9 million into Celtic through a placing and may offer further cash input of up to £7.5 million.<br/><br/>The firm will also be able to participate in all of Celtic's future new projects, as well as developing the Yakutia and Kazakhstan sites.<br/><br/>Peter Hannen, Chairman of Celtic, said: "The Board of Celtic is delighted to have one of the largest and most dynamic players in the gold industry as a cornerstone investor. <br/><br/>"We are excited about the prospects of working with Barrick on developing gold projects in Yakutia and Kazakhstan, using the significant influence and financial support which they bring."<br/><br/>Greg Wilkins, president and CEO of Barrick, added: "We consider the investment in Celtic as an excellent opportunity to further enhance and strengthen Barrick's future growth profile. We view the investment as a key strategic relationship for our growth in Russia and Central Asia."<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7218988"/>

 

« Back to Gold News stories