20th Jun 2018 10:23
LONDON (Alliance News) - Mining company China Nonferrous Gold Ltd said Wednesday its subsidiary, LLC Pakrut, has signed a twelve month contract with Wenjian Limited Liability Co worth approximately USD7.6 million in total.
Shares in China Nonferrous Gold were down 10% at 6.50 pence on Wednesday in London.
LLC Wenjian will provide contracting, construction and development during the first stages of the Pakrut gold project in the Republic of Tajikistan. The contract is for 12 months but may be extended "by mutual consent".
The contract its expected to cost RMB50 million, roughly USD7.6 million, and will be paid in stages.
LLC Wenjian will develop, prospect and mine at the Pakrut project as well as conducting auxiliary work.
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