"Newcrest Mining Ltd. (NCM.AU) Friday said it has acquired its initial 30.01% interest in its joint venture with Harmony Gold Mining Mining Co. Ltd. (HMY) for gold assets in the Morobe province of Papua New Guinea The announcement follows Newcrest's payment of US$230 million to Harmony. Newcrest will increase its interest in the joint venture to 50% by sole funding all project expenditure until the date of first production from the Hidden Valley mine, up to a maximum of US$306 million. Production is scheduled to commence at Hidden Valley in mid-2009."
Here are some more interesting figures: LOM (life of mine) - 10.3 years LOM ounces - 2.65 million gold
ORP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
