Cresset Precious Metals’ wholly owned subsidiary, Cresset International has signed a Memorandum of Understanding (MoU) with the Jordanian Natural Resource Authority (NRA) for the exploration of gold in the Wadi Araba area of Southern Jordan.
"We have added a further dimension to Cresset's expansion and our growth pattern has exceeded our initial plans. We shall now concentrate our efforts to develop the project we have in hand and expect that we shall be in pilot plant production in Egypt by the last quarter of this year," stated Cresset Chairman, Sir Anthony Joliffe.
US-based Cresset Precious Metals Incorporated is engaged in gold development and production in the Eastern Desert of Egypt. Such endeavors began in 1999, when the Company's wholly owned subsidiary Cresset International entered into an exclusive concession agreement with the government of Egypt and the Egyptian Geological Survey and Mining Authority for the exploration and production of gold and associated minerals in various locations in the Eastern Desert of Egypt. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
