K & S background

The K&S (‘Kimkanskoye' & ‘Sutarskoye') deposits were first identified in the early 1950s and 1960s and are located close to both the Trans-Siberian railway (4km) and the Chinese border (c.60km). The licences over the two deposits were granted to LLC Rubicon (now known as KS GOK) in February 2006 and have
a term of 20 years, which is extendable with the consent of the licensing authority. In April 2006, Aricom acquired an option to purchase 50% of LLC Rubicon which holds the licences. In June 2006, Aricom acquired the 50% interest in K&S not subject to the option and subsequently exercised the option and completed the transaction in August 2007, consequently owning 100% of the K&S project.