Gold World Resources Inc. has announced that the Chinese government has approved a 30-year, 70%/30% joint-venture company between Gold World and the Shijiazhuang Comprehensive Geological Brigade of the Hebei Geological Bureau. The company will be permitted to explore for gold and silver deposits in an area specified by the Chinese government, which includes the Ming gold/silver deposit. In order to earn the 70% interest, Gold World must spend US$178,393.00 over 6 months. This committment has been reduced from the original sum of US$1,750,000.00 over 18 months. The news release has further details, including what the Brigade has to do to earn its 30%.
This item was released yesterday, in mid-morning ET. At the end of the trading day, Gold World closed at 4 cents for a gain of a penny. Current bid-ask is 3 cents - 3.5 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
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