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Golden Cities acquisition extends Paddington's life

GOLDFIELDS said today it has reached agreement with Third Rail Ltd to acquire its Golden Cities project, along with a package of highly prospective tenements straddling the Kunanalling shear.

Greg Tubby

Under the agreement, Goldfields will pay Third Rail $5.5 million in cash up front, as well as cash payments of $500,000 at each 100,000 ounce increment in production from Golden Cities with the last payment...

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