News: AOP Apollo Consolidated says Newcrest's unit exercises option to buy project

Oct 27 (Reuters) - Apollo Consolidated Ltd (AOP) :

• Subsidiary of Newcrest Mining Limited has exercised an option to purchase Seguela gold project in Cote D'ivoire
• Exercise of option triggers payment of first instalment of a total of us$3.5m in consideration payments
• Option rights held pursuant to an agreement between newcrest and shareholders of an ivorian subsidiary company 80% owned by apollo
• Intends to utilise funds to step-up exploration drill-testing at its 100% owned trench zone gold discovery at boundiali