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Lydian International To Buy Out Stake In Armenian Gold Project From

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  • Lydian International To Buy Out Stake In Armenian Gold Project From

    LYDIAN INTERNATIONAL TO BUY OUT STAKE IN ARMENIAN GOLD PROJECT FROM NEWMONT MINING

    CanadianBusiness.com
    http://www.canadianbu siness.com/markets/market_news/article.jsp?content =D9E625OO0
    March 1 2010

    WASHINGTON (AP) - Mining company Lydian International Ltd. said
    Monday it would buy out Newmont Mining Corp.'s interest in gold
    exploration project.

    Toronto-based Lydian said a subsidiary will purchase all of Newmont
    Mining's interest in a joint venture that includes a gold discovery
    in Armenia. The deal is expected to close in 60 days.

    Under the deal, Lydian will pay $15 million to Newmont, plus royalties
    and 3 million shares.
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