TransactionsKinross Gold Sells Haile Gold MinePublished: 10/16/2007 By Erik Goldsilver, France M. Tenaille On October 16, 2007, Kinross Gold Corporation completed the sale of the Haile Gold Mine in South Carolina to Romarco Minerals Inc. As consideration, Romarco has issued to Kinross 5 million common shares of Romarco, assumed all liabilities associated with the Haile Gold Mine and agreed to pay to Kinross a per ounce payment on new reserve ounces delineated on the Haile Gold Mine property equal to US$3 per ounce on reserves identified between 1 and 3 million ounces and US$5 per ounce on reserves identified between 3 and 5 million ounces. Cassels Brock acted for Kinross. |