Minco moves into Russia

Minco, formerly Irish Marine Oil, has announced it has acquired options over several gold projects in Russia.

The projects contain approximately 300,000oz Indicated and Inferred (C1and C2) of confirmed gold resources, as calculated by the Russian Geological State Committee of Geology.

Minco said in a press release that it believes these projects can significantly strengthen the existing resource portfolio, reflecting the company strategy to undertake only high margin resource operations.

The company said its immediate concern is to review the portfolio of projects both technically and commercially, prior to negotiating agreements for joint venture or acquisition.

CEO Matthew Dorman, said that the company will continue to develop its Mexican and Irish properties.