May 21, 2012 Polyus Gold International Ltd. sold ROMALTYN, Romania.
June 30, 2008 Pre-production preparations continued at Romaltyn during the first half. A
new lime plant was completed and the carbon-in-leach processing tanks were fully refurbished. A central dam monitoring and pumping station was also finished, while the central dam lime plant was refurbished. Production will start in Romania following the grant of the appropriate permits.
In 2007 exploration works were undertaken on both the Romaltyn Exploration tenements and the Romaltyn Mining tenements. Work on the Romaltyn Exploration tenements included 6.8km2 of reconnaissance mapping, including 3km2 of surveying. It also involved the collection of 30 reconnaissance samples for analysis and 485 further geochemical samples. Follow-up trenching amounted to 244 linear metres, from which 212 samples were taken. Technical geological reporting was made for each tenement.
The focus of activity at the Romaltyn Mining tenements, during 2007, included 2.0km2 of reconnaissance mapping. It also involved the collection of 21 reconnaissance samples for analysis, and a further 424 geochemical samples. Trenching of 81 linear metres was completed, from which 56 samples were taken.Core drilling was carried out at the June 11 property, within a Romaltyn Mining tenement, to assess the potential for open pit mining. Some 2.2km of road access and 23 drill holes were also completed, with a total of 3,382 metres drilled. Technical, geological and environmental reports were made for each tenement.
June 30, 2007 NAMR approved the transfer of the exploration licences to Romaltyn Exploration and Romaltyn Mining, as well as the commencement of exploration work.