Angel Gets Approval for Nalunaq Gold Mine Acquisition

29 September 2009 (Last Updated September 29th, 2009 18:30)

Angel Mining has received governmental approval for its acquisition of the Nalunaq gold mine in Greenland from Crew Gold. Angel Mining CEO Nicholas Hall said the transfer of the mining licence will trigger a final payment of $500,000 to Crew payable by 2 October, mineweb.com repo

Angel Mining has received governmental approval for its acquisition of the Nalunaq gold mine in Greenland from Crew Gold.

Angel Mining CEO Nicholas Hall said the transfer of the mining licence will trigger a final payment of $500,000 to Crew payable by 2 October, mineweb.com reports.

“The government approval of this licence transfer was delayed due to the general election held earlier this year in Greenland but it has not prevented essential preparatory work continuing on site,” Hall said.

The company is hoping to produce gold before the end of 2009 but further licensing is required from the Bureau of Minerals and Petroleum before this can take place.