Russia's Nord Gold says to buy into gold deposit in French Guiana

Wed Sep 18, 2013 7:23am EDT
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MOSCOW, Sept 18 (Reuters) - Russian gold miner Nord Gold said on Wednesday it had signed a binding letter of intent to buy a 50.01 percent interest in certain licences of a gold deposit in French Guiana from Columbus Gold Corp.

Nord Gold said the Paul Isnard project's Montagne d'Or deposit contains inferred gold resources of 4.15 million ounces. The agreement stipulates that Nord Gold pay Columbus Gold $4.2 million in cash no later than May 21, 2014.