Celtic Resources buys Kazakhstan gold mine

 

Celtic Resources Holdings has bought the remaining shares of the Suzdal gold mine in Kazakhstan and raised its stake in the Shorskoe molybdenum project.

Celtic plans to raise £2.56 million sterling through a share placing to fund the acquisition.

Mr Kevin Foo, chairman and managing director of Celtic Resources, said: "This is a significant step for Celtic as Suzdal is not only profitable but has the potential for a major resource increase".

AFP