OZL RNS

News: OZ Minerals sells Cambodian gold assets

  1. FNN News
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    21/02/12
    07:59
    Post #: 9723955
    .


    Copper and gold miner OZ Minerals Limited (ASX:OZL) has announced plans to sell off its Cambodian gold assets.



    The company will sell the assets to Renaissance Minerals Limited (ASX:RNS) for $17.8 million in cash, shares and options in Renaissance.



    In addition, Renaissance will receive possible future payments of a further $22.5 million when they reach certain milestones.



    The company says it decided to sell the assets after a review that concluded the project does not fit with its strategy.



    Shares in OZ Minerals closed 1.45 per cent lower yesterday at $10.91.


    OZL Price at posting: $10.91 Sentiment: None Disclosure: Held
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