find this on varun industries website. . Varun Industries to explore Gold, Platinum and Gemstones prospects ... � Varun Industries Limited has entered into an MOU with Cluff Resources Pacific NL (�Cluff�), an Australian company to set up a joint venture for exploration and development of gold, platinum and gem stone projects on the highly prospective tenements in Southern Madagascar for which Varun Group holds mining licence. Recent investigations have located gold and platinum bearing alluvium near Fort Dauphine South Madagascar and ruby and sapphire occurrence have also been identified in the area of Amboitsozo Ihosy , North Madagascar. After initial evaluation, the focus of the joint venture would be to carry out a detailed mapping assessment of this area, with Cluff providing highly qualified Australian Geologists and applying its technology. Varun has already acquired uranium , Oil & Natural Gas and Iron Ore reserves in Madagascar Commenting on the prospects Mr. Kiran Mehta , CMD Varun Industries said , " We are excited about the potential of Madagascar as each new investigation unearths fresh treasure and valuable business opportunities our JV with Cluff will be a win -win partnership ".
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CFR Price at posting:
0.3¢ Sentiment: Hold Disclosure: Not Held
