Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Wishbone Gold surges on Honduras gold mining venture

Shares in trading group Wishbone Gold plc rose 20% as it unveiled a new joint venture aimed at tapping gold mining in Honduras.
Wishbone Gold surges on Honduras gold mining venture
The venture will provide equipment to small mines in Honduras to enable them to increase production

Shares in trading group Wishbone Gold PLC (LON:WSBN) rose 20% as it unveiled a new joint venture aimed at tapping gold mining in Honduras.

Subsidiary Wishbone Gold Honduras Ltd has inked the 30 - year deal with SION Honduras, which has an agreement with the Honduran government to expand the mining industry there.

WATCH: Honduras venture a "huge opportunity", says CEO ...

READ - Wishbone Gold ready to reverse gently into gold supply

The venture will provide equipment and expertise to small mines in Honduras to enable them to increase production.

In return, the mines will supply Wishbone's trading subsidiary Black Sand FZE with all the output at preferential prices.

Chief executive at Wishbone Richard Poulden said: "Working with SION in this way implements Wishbone Gold's strategy of reverse integration into the small mining sector around the world.

"This secures supply and increases margins," he added.

WATCH - Wishbone Gold has a great future, says Poulden

The aim is to recover each investment within a year, said Wishbone. After that,  the margin remains shared equally with SION.

The mines receive higher sales and higher profits. Wishbone and SION obtain security of supply at preferential prices and the Honduran government is guaranteed that all taxes will be paid by the mines, the firm added.

Giles_55af4ddca6481.jpg
Why Invest In Wishbone Gold PLC? Read More Here

Register here to be notified of future WSBN Company articles
View full WSBN profile View Profile

Wishbone Gold PLC Timeline

Newswire
February 09 2017

Related Articles

Gold-plus-dollars.jpg
March 16 2017
Petropavlovsk's pending use of pressure oxidation processing technology will boost production significantly
lorry on a mine
January 04 2017
The explorer has several exciting joint ventures on the go in Europe
Tinka_drilling_592c3d47d9b15.png
May 29 2017
The Ayawilca zinc zone already has an inferred mineral resource of 18.8 million tonnes at 8.2% zinc equivalent

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use