In the framework of the project for joint development of the Khokhoi ore field, located in Aldan region of the Republic of Sakha (Yakutia), Seligdar acquired from RosGeo 75% of shares in Khokhoi LLC, which holds a license for geological exploration of the same name gold ore deposit. The parties also entered into an option agreement, which enables Seligdar to increase its ownership in Khokhoy LLC to 100% after entry of the mineral reserves into the public balance sheet.
Seligdar will ensure the economic performance of the joint venture, as well as funding of the geological exploration and survey activities. RosGeo will conduct the complete set of the geological exploration in the licensed area, as well as provide the geological support to the field development. The field work at the Khokhoi ore field will begin in August 2021.
Earlier, RosGeo and Seligdar launched the first joint junior project in Aldan region of the Republic of Sakha (Yakutia), they started the greenfield exploration of Chulkovo site.
In addition, in the framework of the cooperation RosGeo and Seligdar perform a number of projects, inter alia, RosGeo conducts the geological exploration at Kiriyestekh deposit field in Aldan ulus of Yakutia and evaluation operations on subsoil site of Semenovskoye area in Krasnoshchyokovo district of Altai Territory.
