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Newmont buys stake in Continental

Continental Gold (CN:CNL) has secured a US$109 million cash injection from major gold miner Newmont Mining (US:NEM) to complete the funding required to build out an underground gold mine at Buritica in Antioquia, Colombia.

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Newmont agreed to purchase 37.38 million common shares at a price of C$4 per share (US$2.90/share). RK Mine Finance Master Fund I also agreed to purchase 8.59 million shares for US$25 million.

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