Mining Equipment: MSloane Consulting provides used mining equipment to mining companies worldwide. Apollo Gold Corporation has entered into a letter of intent with Elkhorn Goldfields LLC (Elkhorn) pursuant to which Elkhorn has agreed to purchase all the outstanding capital stock in Montana Tunnels Mining, Inc., an indirect wholly owned subsidiary of Apollo (Montana Tunnels), which includes the 50% interest held by Montana Tunnels in the joint venture agreement with Elkhorn Tunnels, LLC (an affiliate of Elkhorn), the Diamond Hill mine and mill and any and all ancillary assets for a purchase price of US$9 million, payable as described below. The Montana Tunnels mine has been on care and maintenance since April 30, 2009.
Monday, October 26, 2009
Mining Equipment: Apollo Gold Entered into a Letter of Intent to Sell Montana Tunnels Mining, Inc.
Mining Equipment: MSloane Consulting provides used mining equipment to mining companies worldwide. Apollo Gold Corporation has entered into a letter of intent with Elkhorn Goldfields LLC (Elkhorn) pursuant to which Elkhorn has agreed to purchase all the outstanding capital stock in Montana Tunnels Mining, Inc., an indirect wholly owned subsidiary of Apollo (Montana Tunnels), which includes the 50% interest held by Montana Tunnels in the joint venture agreement with Elkhorn Tunnels, LLC (an affiliate of Elkhorn), the Diamond Hill mine and mill and any and all ancillary assets for a purchase price of US$9 million, payable as described below. The Montana Tunnels mine has been on care and maintenance since April 30, 2009.
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