LONDON (Thomson Financial) - Mineral exploration investment company Eurogold
Ltd. said it has received the second and final cash payment from Oxus Gold Plc.
as part of a settlement of a court case in Australia.
Oxus will issue about 2.7 million shares to Eurogold, which also said on
Friday it continues to pursue new investment opportunities, on or before May 21,
completing the settlement.
In February, Oxus agreed to pay A$7.95 million in cash and shares to settle
the suit, which came after the company pulled out of a deal to buy Eurogold's
Ukranian gold assets for A$27.8 million.
Eurogold said it will pay 30 percent of the settlement proceeds to IMF
(Australia) Ltd., which funded the suit.
TFN.newsdesk@thomson.com
rda/wj
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|