Angkor Gold Corp.

Company Reports > Angkor Gold Corp.

One Canadian junior mining company, Angkor Gold Corp. (TSX-V; ANK) is working aggressively toward implementing their dual-concept game plan. In one direction, they are striving to advance their own Cambodia-based mining projects while also building on their role as a project generator.

All of Angkor's present projects and properties are located in the Southeast Asia nation of Cambodia and they are the first North American mining corporation to be exploring and developing in that country. As a result, they have enjoyed the first opportunity to build strong relationships, both with the government of Cambodia as well as with area communities. Cambodia is in the process of opening their doors to resource development and Angkor has enjoyed a high level of cooperation to date from government agencies.

Cambodia itself is believed to host numerous opportunities for mining development and the company has acquired a major land position of eight project areas totaling approximately 2,000 square kilometers (KmSq). A portion of those holdings are now being developed by Angkor while other areas are being devoted to project development through joint ventures.

The company has already received US$2.4 million in revenue from agreements and on March 15, Angkor issued a Press Release detailing a second agreement, this one with Mesco Gold Ltd. relating to the Oyadao South Concession which calls for US$700,000 payable now in cash with a further US$500,000 payable pursuant to a promissory note. In addition, the agreement calls for a 10% Net Smelter Royalty on future production.

The initial US$2.4 million payment resulted from an agreement between Angkor and "All Solutions (Cambodia) Co. Ltd." which called for that specified cash payment in return for the right to develop 78 KmSq of the Oyadao Tenement.

Going forward, Angkor has determined to include Net Smelter Royalties on future production, where possible, as part of future joint venture agreements and in this manner, not only will they be a 'project generator' but will also take on the attributes of being a 'royalty' company as well. Fletcher Morgan, VP-Corporate Development also emphasized that that Angkor is seeking partnerships only with companies with a serious commitment toward advancing projects to actual production.

Through these methods, the company is looking forward to further developing their own projects without being forced to raise substantial sums in the presently difficult equity financing marketplace. In both their own exploration projects and those being set aside for joint ventures, the company is looking specifically for high-grade properties and those with large porphyry opportunities.

A detailed, in-depth company report will be prepared following a property visit, currently scheduled for the last half of March.

Vancouver, BC

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