Gold exploration and mining company Ruby Creek Resources has completed the acquisition of Gold Standard Tanzania’s assets, which are located adjacent to its Gold Plateau project.
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The combined total acquisition costs stood at $3m plus the assumption of $585,000 in debt.
Ruby Creek now owns 95% assets of a ten-year, 10km2 mining licence; two prospecting licences of 40km2 and 89km2; a regional environmental report on the combined 139km2 properties; and a mining camp.
In addition, the company gained 100% ownership of mining equipment including excavators, dump trucks, loaders, bulldozers and supply vehicles located on-site and in Dar es Salaam.
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