Randgold Resources (RRS) has made an offer to purchase a majority stake in Fleurette Group’s Moku-Beverendi project.
Located in the north-east of the Democratic Republic of Congo, the project, which has exploration permits adjoining the company’s Kibali gold mine, is expected to contain around five million ounces (Moz) of gold.
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Randgold CEO Mark Bristow told Bloomberg: "It’s of interest to us.
"We’ve had discussions in the past and made proposals."
London-based Randgold is expected to buy the stake in exchange for financing a feasibility study.
"If we don’t find anything, well, tiddly pop," Bristow said.
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By GlobalDataThe Moku-Beverendi gold exploration project is said to cover 1,270km² of north-eastern Congo.
In an email statement Fleurette Group said: "This is an outstanding asset with real potential, into which we have already invested over $40m."
Bordering Randgold Resources and AngloGold Ashanti’s Kibali gold project, Moku-Beverendi is a joint venture between Fleurette’s Switzerland-based Moku Gold and Sokimo, a state-owned gold miner.
According to Randgold, Kibali may eventually produce 550,000oz a year and has 11Moz of reserves and 21Moz of resources.
Randgold Resources, which is operates mainly in Mali, commissioned the Morila mine in 2000 and the Loulo mine in 2005.
