{"id":1099421,"date":"2019-02-12T12:49:49","date_gmt":"2019-02-12T12:49:49","guid":{"rendered":"http:\/\/www.mining.com\/?p=969665"},"modified":"2019-02-12T18:49:49","modified_gmt":"2019-02-12T18:49:49","slug":"newcrest-sells-cote-divoire-project-to-canadas-roxgold-in-30-million-deal","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1099421","title":{"rendered":"Newcrest sells C\u00f4te d\u2019Ivoire project to Canada\u2019s Roxgold in $30 million-deal"},"content":{"rendered":"<p>Australia\u2019s largest gold producer, Newcrest Mining, (ASX: NCM) is <a href=\"http:\/\/www.newcrest.com.au\/media\/market_releases\/2019\/Seguela.pdf\"  rel=\"noopener\">selling its S\u00e9gu\u00e9la gold project<\/a> and its portfolio of 11 exploration tenements in C\u00f4te d\u2019Ivoire to\u00a0Canada\u2019s Roxgold (TSX: ROXG) in a deal valued at $30 million.<\/p>\n<p>The Toronto-based miner will pay $20 million upfront, followed by a $10 million deferred payment due if and when S\u00e9gu\u00e9la reaches production.<\/p>\n<p><q class='pullQuote-right'>S\u00e9gu\u00e9la will become Roxgold\u2019s second major project after the Yaramoko gold mine in Burkina Faso, also in West Africa.<\/q><\/p>\n<p>Roxgold <a href=\"https:\/\/www.roxgold.com\/news\/news\/press-release-details\/2019\/Roxgold-to-Acquire-the-Sgula-Gold-Project-in-Cte-dIvoire-and-Announces-Addition-to-Management-Team\/default.aspx\"  rel=\"noopener\">said it believed the project has near-term development potential<\/a> due to its Antenna deposit, which hosts an inferred resource of 5.8 million tonnes at an average of 2.3 grams per tonne of gold, in addition to other satellite opportunities.<\/p>\n<p>Once the acquisition is finalized, S\u00e9gu\u00e9la will become Roxgold\u2019s second major project after the Yaramoko gold mine in Burkina Faso, also in West Africa.<\/p>\n<p>\u201cRarely does such a large and carefully assembled land package become available from one of the world\u2019s leading gold producers and S\u00e9gu\u00e9la is expected to materially increase Roxgold\u2019s overall resource inventory, particularly after we bring the deposit up to National Instrument 43-101 standards later this year,\u201d\u00a0the company\u2019s president and chief executive officer John Dorward said <a href=\"https:\/\/www.roxgold.com\/news\/news\/press-release-details\/2019\/Roxgold-to-Acquire-the-Sgula-Gold-Project-in-Cte-dIvoire-and-Announces-Addition-to-Management-Team\/default.aspx\"  rel=\"noopener\">in a statement<\/a>.<\/p>\n<p>Newcrest will maintain a presence in C\u00f4te d\u2019Ivoire post-sale through its 50% exploration joint venture in the south-east of\u00a0 the country with Barrick Gold, set in 2016.<\/p>\n<p>The transaction is subject to approval from C\u00f4te d\u2019Ivoire\u2019s Minister of Mines Jean Claude Kouassi, as well as the renewal of S\u00e9gu\u00e9la\u2019s exploration permit, and is expected to take place in the second quarter of this year.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/newcrest-sells-cote-divoire-project-canadas-roxgold-30-million-deal\/\">Newcrest sells C\u00f4te d\u2019Ivoire project to Canada\u2019s Roxgold in $30 million-deal<\/a> appeared first on <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/\">MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Roxgold believes the project has near-term development potential due to its Antenna deposit, which hosts an inferred resource of 5.8 million tonnes.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/newcrest-sells-cote-divoire-project-canadas-roxgold-30-million-deal\/\">Newcrest sells C&ocirc;te d&rsquo;Ivoire project to Canada&rsquo;s Roxgold in $30 million-deal<\/a> appeared first on <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/\">MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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