Apollo Gold Corp., the Denver-based company that owns the Florida Canyon and Standard mines about 45 miles southwest of Winnemucca, said last week it struck a deal to sell its Nevada operations to a Jipangu Inc.
of Tokyo.
Terms of the proposed transaction weren't disclosed.Apollo didn't say when the sale is expected to close after Jipangu completes its due-diligence studies.
Florida Canyon last year produced 73,000 ounces of gold at a cash cost of $362 an ounce.
The Standard Mine is beginning production this year.
Jipangu Inc.
also took a 9.5 percent equity stake in Apollo Gold, which has operations in Montana and Ontario in addition to its Nevada mines.
