Vancouver-based ValGold has negotiated a deal to acquire a 75% interest in private Ukrainian company Klinservis to hold a 25 year mining license over the Muzhievo gold-silver mine located in Beregovo, Ukraine. The license will allow ValGold to control the Muzhievo mine, as well as the Beregovo and Kvasovo projects. ValGold has issued 3.5 million common shares for ValGold as transaction for the agreement, the total cash cost is US$10.0 million dollars. Stephen Wilkinson, president and chief executive officer of ValGold notes that  the company has been "monitoring gold and silver opportunities in the Carpathian region for some time and are pleased to have now negotiated an agreement with our Ukrainian partners.”

SOURCE:KITCO NEWS