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Going for gold

When the dollar gets weak, gold prices soar, according to conventional wisdom. That's been the case over the last year, and global mining firms are racing to mineral-rich Latin America for a piece of the action.

Vista Gold, a U.S. gold miner, agreed to sell its Amayapampa gold mine in Bolivia to Luzon Minerals, a Canadian miner. Luzon will pay Vista US$100,000 in cash and 2 million of its shares, followed by another $850,000 payment either in cash or half in cash and half in equity.
Ross River Minerals, a Canadian mining company, reached an agreement with Almaden Minerals, another Canadian miner, to buy 100% of the El Pulpo gold mine in Sinaloa, Mexico. Ross River will pay Almaden in its own equity based on output levels.


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