Auction on Lagerny gold in Tuva declared invalid

01 Jun 2016

The auction for exploration and production of gold from deposits in the area of the Lagerny riverlet in the Republic of Tyva declared invalid, the Department of Geology and Licensing of Tsentrsibnedra for the republic reports to Prime Agency. As explained in the message, only one application was filed at the auction. The alluvial gold reserves at the area of 1.8 sq km according to the C2 off-balance category are 37 kg. The initial payment is 540 thousand rubles.
The facility is located in Todzhinsky kozhuun (district), in the Central part of the Academician Obruchev Ridge, in the valley of the Lagerny riverlet. The winner will be granted a 10-year license.

Sourсe: Gold Mining Manufacturers' Reporter