March 30, 2017 / 3:06 AM / 6 months ago

BUZZ-Australia's Dragon Mining rises; transfers interest in gold project

** Gold mines operator Dragon Mining Ltd rises as much as 3.6 pct to A$0.290

** Company says it has transferred 100 pct interest in Hanhimaa gold project in northern Finland to Agnico Eagle Mines Ltd in exchange for 2 pct net smelter return (NSR) on future mineral production from the project

** Agnico Eagle will have the right to buy back 1 pct point of 2 pct NSR at any time for 2 mln euros ($2.15 mln) cash

** After signing new transfer agreement, existing earn-in agreement between parties shall immediately terminate and Agnico Eagle will take over all liabilities for the project

** About 85,000 shares change hands, 1.1 times the 30-day average ($1 = 0.9307 euros) (aditya.srivastsav.thomsonreuters.com@reuters.net)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below