Saturdays west Australian newspaper report,which I presume has not been read by any posters here,as there are no comments! "Second asia project".
Ross Smith's Red October Resources has struck a deal to acquire a second base metals deposit in central Asia.A week after announcing it had secured rights to exclusively negotiate the purchase of the Tesiktas copper project in Kazakhstan,the group has agreed to buy the Akjilga silver project in Tajikistan from the London-listed Kazakhmys for US$12 million ($11.29 million).The purchase includes a 90 man exploration plant.Red October,which has paid a $US2 million deposit from cash reserves,intends to spin the asset out into a new company to concentrate on it's copper project.
Not sure about where this will lead us as holders of Red October,but interested in comments.
ROS Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
