Nelson sells Tajik assets

Having decided to focus on its oil and gas interests, Nelson Resources (NLG-T) is selling its 44% stake in the Jilau gold mine in Tajikistan.

The buyer is London-listed Avocet Mining, which will give Nelson 14 million shares plus an unspecified amount of cash.

Jilau produced 80,000 oz. gold in 2001 at a cash operating cost of US$218. At year-end, measured and indicated resources stood at 12.6 million tonnes grading 1.3 grams gold per tonne.

Two other deposits in the area, Taror and Chore, are being evaluated as possible sources of feed for the Jilau mill.