This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Hawk Uranium signs LOI for Xtra-Gold's Kwabeng 2009-11-10 10:36 ET - News Release Mr. Michael Newbury reports HAWK ENTERS INTO LETTER OF INTENT FOR GHANAIAN MINING CLAIMS Hawk Uranium Inc. has entered into a letter of intent with Xtra-Gold Resources Corp. with respect to a proposed transaction, whereby Hawk would obtain the exclusive right to explore, develop and mine alluvial gold on Xtra's Kwabeng mining concession in the Republic of Ghana. The proposed arrangement would have an initial term of five years and would be renewable for successive periods of five years thereafter, provided that annual gold production in each year of a renewal period is at least 6,000 ounces. This project is part of Hawk's strategic, immediate and long-term goal to commence gold and other precious mineral production. The transaction is subject to the completion of a definitive agreement between Hawk and Xtra, the approval of their boards of directors and the approval of the applicable regulatory authorities, including the TSX Venture Exchange.
Under the letter of intent, Hawk would purchase from Xtra the mineral extraction and processing equipment located on the Kwabeng concession, including any spare parts, for a total consideration of $625,000 (U.S.), due upon execution of a definitive agreement.
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