PHILIPPINES - Approval for King-king JV restructure

St Augustine Gold and Copper Limited has received conditional approval from the TSX for the joint venture restructuring announced on October 15, 2013. The company’s board and shareholders previously approved the restructuring while its joint venture partner, Nationwide Development Corp (Nadecor) has also received approval from its board and shareholders to proceed with the transaction.

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KYRGYZ REPUBLIC – Orsu enters new sale agreement

Orsu Metals Corporation has entered into a new conditional exclusivity agreement with David-Invest LLP, a Kyrgyz registered company, and a related company, David Way Limited, a Hong Kong registered company, with a view to the potential sale of its Akdjol-Tokhtazan gold exploration licences through either the sale of its wholly-owned subsidiary, Tournon Finance Limited, or Tournon’s wholly-owned subsidiary, Oriel In Kyrgyzstan LLC (OIK).

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COPPER - AMEC and Hyundai awarded Hillside contract

International engineering and project management company AMEC, together with Hyundai Engineering & Construction Co (HDEC) and Hyundai Rotem Company (HRC), has been awarded the Early Contractor Involvement (ECI) for Rex Minerals’ Hillside project in South Australia. The ECI contract includes production of the project execution strategy, schedule and price for the main Engineering, Procurement and Construction (EPC) works.

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FUNDING - Besra aims to raise US$12 million

Besra Gold intends to raise US$12 million through the issuance of 8% unsecured convertible redeemable notes on a private placement basis. The company has experienced lower revenues because of recent issues in Vietnam that have affected its short-term cash flow.

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