19th Aug 2014 08:30
LONDON (Alliance News) - Golden Saint Resources Ltd Tuesday said Sesay Abdulai, of the Chiefdom of Konike Barina in Tonkolili District and the holder of the mining licence in Rowaka, Sierra Leone, has been provided with the equipment and third gold washing plant to assist him in washing the gravels he has accumulated for gold.
The process will be overseen by a representative of Golden Saint Diamonds SL Ltd.
A week ago, Golden Saint said it has signed a renewable three-year agreement with Sesay, under which the company will provide machinery, mining tools, food, fuel, lubricants and all other funds required for the smooth running of the artisanal gold mining operation in Rowaka.
It said that all gold obtained under the licence is to be sold to Golden Saint Resources and the sale proceeds will be shared between Golden Saint Resources and Sesay Abdulai on the basis of 85% and 15%, respectively.
Golden Saint shares were down 2.2% to 2.2 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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