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BUSINESSMAN MARCEL VICHMANN TO DIG GOLD IN ARMENIA
Baltic Business News
http://balticbusinessnews.com/article/2011/8/18/businessman-marcel-vichmann-to-dig-gold-in-armenia
Aug 18, 2011
Estonian businessman Marcel Vichmann has set up FIT Armenia, a company
that plans to explore and mine gold and copper in Armenia.
Vichmann started the gold mining project in Armenia after GILD
Arbitrage, an investment fund that had invested hundreds of millions
of kroons placed by some of Estonia's richest businessmen in Armenia
in 2007 and 2008.
The investment fund had gold exploration rights for seven properties,
but soon went bankrupt when it could not meet its investors' demands.
Vichmann now owns three of the seven licenses and has reportedly
invested additional amounts in the exploration.
He himself did not wish to comment the project saying that it did
not a public matter.
In 2010 Äripaev ranked Vichmann Estonia's 12th richest businessmen
with assets worth some 1.24 billion kroons. He has extensive real
estate holdings, owns rail passenger and bus transport companies,
and industrial enterprises.
Baltic Business News
http://balticbusinessnews.com/article/2011/8/18/businessman-marcel-vichmann-to-dig-gold-in-armenia
Aug 18, 2011
Estonian businessman Marcel Vichmann has set up FIT Armenia, a company
that plans to explore and mine gold and copper in Armenia.
Vichmann started the gold mining project in Armenia after GILD
Arbitrage, an investment fund that had invested hundreds of millions
of kroons placed by some of Estonia's richest businessmen in Armenia
in 2007 and 2008.
The investment fund had gold exploration rights for seven properties,
but soon went bankrupt when it could not meet its investors' demands.
Vichmann now owns three of the seven licenses and has reportedly
invested additional amounts in the exploration.
He himself did not wish to comment the project saying that it did
not a public matter.
In 2010 Äripaev ranked Vichmann Estonia's 12th richest businessmen
with assets worth some 1.24 billion kroons. He has extensive real
estate holdings, owns rail passenger and bus transport companies,
and industrial enterprises.