Fed tests gold upleg
Gold’s outlook and fundamentals remain really bullish.
Eritrean National Mining Corp. has agreed to pay US$32 million for a 30 percent stake in Chalice Gold Mines’ Zara gold project, Winnipeg Free Press reported Wednesday:
Eritrean, which is based in Australia but trades on the TSX, said that the agreement will pave the way for final permitting, financing and development of Zara.
In exchange, Eritrean will receive a stake in Zara Mining, an operating company, that will own, develop and operate the Koka gold mine in Eritrea, eastern Africa, which is part of the broader project.
