In particular, the company purchased the Omchak
deposit in Trans-Baikal Krai, and will soon begin construction of a mine there.
Petropavlovsk said it expects to report a $30mn non-cash accounting loss linked to the disposal of 65% of ZRK Omchak
5 December 2012 - Russia-focused gold producer Petropavlovsk Plc (LON:POG) said on Wednesday it had agreed to sell a 65% stake in sector firm ZRK Omchak CJSC to Susumanzoloto OJSC for nearly USD21.
Upon completion of the stake sale, Petropavlovsk will remain a minority shareholder in Omchak with an interest of 25%.
5 December 2012 a[euro]" Russia-focused gold producer Petropavlovsk Plc (LON:POG) said on Wednesday it had agreed to sell a 65% stake in sector firm ZRK Omchak
CJSC to Susumanzoloto OJSC for nearly USD21.
Meridian Minerals Limited (ASX:MII) has signed a non-binding Heads of Agreement to acquire a 75% interest in the non-alluvial assets of Russian gold company ZAO ZRK Omchak
from UK listed Petropavlovsk PLC (LON:POG) (PINK:PPLKY).
Through FinTronics' wholly owned subsidiary, Maxing Investment Limited, the Group has entered into a conditional Sale and Purchase Agreement with Truffle Rich Holdings Limited, whereby it will acquire the entire issued share capital of Spring Vast Limited,an investment holding company that will own 80% interest in CSJC Gold Mining Company Omchak ("Omchak") for an aggregate consideration of US$300 million (the "Acquisition").
Omchak and its subsidiaries are engaged in the business of geological exploration and commercial mining of placer gold deposits and hard rock gold deposits located in Russia.
These planes replaced An-28 on routes to Omsukchan, Seimchan and Susuman, will be used for the restoration of flights to Ust-Omchug and Omchak
PETROPAVLOVSK TO SHED 65% STAKE IN RUSSIAN GOLD MINER OMCHAK
Petropavlovsk May Sell ZAO Omchak
, but Retain Alluvial Assets: Neutral
Another 16 koz were produced through alluvial operations, while 56 koz were produced by its fully consolidated Omchak
subsidiary as well as JVs.