Tuesday, 4th July 2006 08:14

Avocet Mining in jv with Canada's Dynasty Gold in China

LONDON (AFX) - Gold producer Avocet Mining PLC said it signed a joint venture deal with Canada's Dynasty Gold Corp to search for gold in China.

Under the agreement, Avocet will earn up to a 36 pct stake of Dynasty's interests in a gold prospect in the Xinjiang province if it invests at least 800,000 usd in the mines.

Avocet also has the right to negotiate for a further increase in its interest in the property until September 2007.