November 2, 2010
Australian miner EnviroGold says it plans to increase its stake in Dominica
Australian miner EnviroGold says it plans to increase its stake in Dominican Republic-based gold project Las Lagunas to 100% from 92.5%. It does not disclose the price, which will be paid in 3 tranches over 2 years. The company also secured financing of AUD37.5m from Macquarie to finance the project's development, dependent on a successful acquisition of the remaining stake. Terms of the financing are not being disclosed and company officials could not be reached for comment.