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Property News
August 20, 2007
Shareholders in the one time major Fijian gold producer Emperor Mines Ltd must be breathing easier now that there is a promise of a dividend return from the sale of the company's 20% stake in PNG's big Porgera gold mine to existing major project owner Barrick Gold Corporation.
August 17, 2007
Announced that the company completed its acquisition of an additional 20% interest in the Porgera mine from Emperor Mines for consideration of US$250 million in cash plus an adjustment amount.
April 12, 2007
Announced that the company has entered into a definitive purchase and sale agreement with Emperor Mines Ltd regarding Emperor’s 20% interest in the Porgera mine. Barrick’s interest in Porgera will increase from 75% to 95% on the completion of this transaction.
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