Lake Victoria Gold Provides Update on Acquisition of Imwelo Project [Yahoo! Finance]
Barrick Gold Corporation (BC) (GOLD)
Last barrick gold corporation (bc) earnings: 2/12 07:00 am
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Source: Yahoo! Finance
that it has received the tax assessment from the Tanzanian Revenue Authority ("TRA") on the taxes to be paid on the acquisition of the Imwelo Mining license (the " ML "). The taxes owing are within the expected budgeted range and are nominal in nature. Payment of the taxes will be made shortly, upon which the TRA will deliver a tax clearance certificate. This certificate, along with the previously received approval from the Fair Competition Commission (" FCC "), is what is required for the Tanzania Mining Commission to transfer the title of the Imwelo Mining License to LVG. Marc Cernovitch, CEO & Director, commented: "We are thrilled to have reached this important milestone in our acquisition of the Imwelo Project. This brings us to the final step in completing the acquisition. The transfer of the ML triggers the second tranche of investment from the TAIFA Group. The Company continues to advance negotiations with several other debt and equity groups to fully fund the development of
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