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Thursday, 18th December 2008 (4272 views)

The chief executive of Universal Mining has stated that "various mining companies expressed their willingness to enter into partnerships" with the company.

In a public announcement addressed to shareholders, Rejean Morin insisted that the new board, which is now in charge of acquisitions and mergers, plans to "respect our shareholders and not dilute ourselves but rather show our progress in the mines we presently acquired".

The company recently announced that it had signed a joint venture agreement with South African firm Kansalas Resources that will see the two companies combine their technical and financial resources to produce gold at a mining property in Guinea.

Located in the prefecture of Siguiri, the mine covers 97 sq km and Universal Mining has completed the establishment of a branch of the firm in Conakry, Guinea, which will be overseen and managed by Maria Spiliopoulos, vice-president of mining operations.

Universal Mining is focused on obtaining mining rights, exploration permits and the acquisition of open pit gold mines in western Africa.

 

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