Mining company Celtic Resources Holdings has agreed to sell 20% of The South Verkhoyansk Mining Company ("SVMC") for $80m (€66.3m) cash.

ISEQ-listed Celtic Resources Holdings, which aims to become one of the largest gold producers in Russia and Kazakhstan by 2007, has reminded shareholders that the £3m Open Offer of 2,222,222 new shares following a 10:1 share consolidation closes at 3pm next Tuesday.