AngloGold signs staggered option to buy US exploration property

American exploration company Renaissance Gold (RenGold) has signed an agreement with AngloGold Ashanti North America for an option to buy an exploration property northeast of Beatty, in Nye County, Nevada. RenGold, a gold/silver-focused exploration company that trades on the TSX Venture Exchange in Canada, says on its website that the option agreement provides for a series of payments to RenGold, beginning with $100 000 on signing, $200 000 a year later, $300 000 on the second anniversary of the option agreement and finally $2.4-million on its third anniversary.