ARB in the Norhtern Miner Feb.24 issue:
Essam
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A deal with a subsidiary of Kazakhstan Minerals (KMU.U-T) will allow Aranlee Resources (ARB-V) to acquire 10
mineral properties covering 9,7000 sq. km in central Kazakstan.
Aranlee will acquire the properties when its buys a 67% interest in Agadyr, a Kazak-stani joint-stock company, from Almaty
Exploration, a subsidiary of Kazakhstan Minerals (KazMinCo). The remaining 33% of Agadyr, on which Aranlee holds the
right of first refusal, is held by another Kazakstani company.
To acquire its interest in Agadyr, Aranlee will pay KazMinCo a total of US$700,000 in three staged payments, as well as
issue 2 million shares. The share issue represents 10.9% of the company's share capital on a fully diluted basis.
Agadyr also holds an application for the 2,000-sq.-km Balkhash exploration licence, for which Aranlee will issue an additional
200,000 shares upon the application's approval. Both land packages are 600 km northwest of Almaty, the capital of the
former Soviet republic.
The topography of the gold-silver-copper prospects is mostly flat or gently rolling, with a road, railway and power lines
nearby.
Previous exploration, conducted by government expeditions, consisted of shallow reconnaissance drilling, and geochemical and
geophysical surveys. |
