15 Mar 2010 14:29

Irkutsk region auctions four hardrock gold licenses

IRKUTSK. March 15 (Interfax) - Russia's Irkutsk region has sold the rights to four of seven small hardrock gold properties located in the Bodaibo gold province that were offered at auctions on March 15, the region's subsurface resources agency, Irkutsknedra, told Interfax.

LLC Status, a Magadan firm, paid 473,000 rubles (starting price 430,000 rubles) for the license to the Yuniorsky section, with P3 reserves of 2.4 tonnes; 429,000 rubles (390,000 rubles) for the Zhyolty section, P3 - 2.4 tonnes; and 429,000 rubles (390,000 rubles) for the Meridionalny section, P3 - 2.4 tonnes.

There was one other bidder, LLC Zapad-Energouchet, at each auction.

LLC Kopylovsky, which is controlled by Sweden's Central Asia Gokd via LLC Tardan Gold, paid 462,000 rubles (420,000 rubles) for the Pravovesenny section, P3 - 2 tonnes.

Auctions for the Verkhneilligirsky, Nizhneilligirsky and Sergeyevskaya properties were called off due to lack of interest.