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Golden Phoenix to acquire 60 percent interest in the Santa Rosa gold mine in Panama. Joint venture for the specific purpose of operating

Tuesday, September 20, 2011

Golden Phoenix Minerals announced the signing of a Definitive Acquisition Agreement to acquire a 60 percent interest, with an option to buy an additional 20 percent interest, in the Santa Rosa gold mine located in Panama and owned by Silver Global, a Panamanian corporation.

Golden Phoenix intends to acquire its initial 60 percent interest in Santa Rosa by acquiring 60 percent of the share capital of a recently created company under the name Golden Phoenix Panama.

The joint venture was formed with the specific purpose of holding, operating, running and mining the exploration, extraction, transport and benefit concessions that encompass Mina Santa Rosa.

Original source: RTTNews