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Wednesday, 30th March 2005 (4539 views)

Golden Star Resources has announced a new agreement with Societe d'Etat pour le Development Minier de la Cote d'Ivoire Mines to acquire the Afema property in southeast Cote d'Ivoire.<br/><br/>The property currently owned by the Cote d'Ivoire state mining and exploration company was previously known as the Abosio property, according to Rapaport.<br/><br/>Golden Star will have to pay a royalty on gold production to the state based on the gold price.<br/><br/>It will pay $100,000 and have the right to conduct a six month detailed technical study which will then allow the company to acquire all the rights of Afema for $1.5 million.<br/><br/>The land at Afema covers around 1,000 square miles of prospective rocks, it forms part of a belt basin that in Ghana contains multi-million ounce gold deposits.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8151830"/>

 

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