On Thursday September 8, 2011, Dutch Gold Resources, Inc. (PINK:DGRI), a company based in North America concerned with the acquisition and development of gold properties, annunciated the leasing out of its Jungo Project, by entering into a lease agreement with Avidian Gold US, Inc.
Avidian already acquiring a collection of projects in Nevada will be conducting additional drilling on the property in 2012. And as mandated by the agreement, the company has to pay an advance royalty to DGRI, along with allowing an industry standard Net Smelter Return to the Company. Further share transaction between DGRI and Avidian will be carried out by filling out a Form 8K by Avidian with the Securities and Exchange Commission, detailing the transaction.
Rauno Perttu, COO of DGRI, acknowledged that the company’s motive behind leasing out of the Jungo Project is to bring down the carrying cost of operating the project which the company was unable to expend; henceforth they are confident on the management of Avidian, anticipating an increase in the return of their investment.
Shares of DGRI climbed 11.43% to $0.0078 on over 857K shares, compared to its average volume of 990K shares.
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