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Anglo sells Laverton tenements to Crescent

ANGLOGOLD Ashanti Australia has agreed to sell exploration assets in the Laverton area to local gold explorer, Crescent Gold. The assets comprise the Sickle royalty of $30 per ounce of gold, the Child Harold prospect, the Lord Byron and Fish projects and the company’s interests in the Jubilee, Black Swan and Jasper Hills joint ventures. Crescent Gold has agreed to pay $4.4 million for the assets in the form of $1 million in Crescent shares, a $250,000 payment upon execution of a binding purchase agreement and $3.15 million in cash payable on or before December 15, 2006. The agreement is still conditional on shareholder and regulatory approvals.

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