The aggregate purchase price for the outstanding shares of Loncan will be equal to C$16 million.

Over its 12-year mine life, the Lawyers mine is expected to produce 141,000 oz. of gold and 2.2 million oz. of silver annually.

Those holding the blockades, which began on Aug. 12, are demanding the national mining agency verify whether any miners are trapped.

The Central African Republic is defending the use of Russian assistance to take back territory the government says rebels have illegally occupied.

Large producers that exceed their goals will receive 80% of the payment for the additional output in foreign currency.

One drill hole returned 0.69 g/t gold and 0.17% copper over 8.93 metres, including 9.05 g/t gold and 1.75% copper over 0.41 metre.

Despite coming off a fourth weekly gain, bullion has now come under pressure from a stronger US dollar.

The incident took place on Saturday at its Moab Khotsong mine.