Drilling around last year’s discovery hole at the Keats zone within New Found Gold’s wholly owned Queensway gold project in Ontario has returned long intervals of high-grade gold.
The South African gold producer is setting aside pursuit of new acquisitions for a year as it focuses on its existing operations and nearby prospects instead, the bullion producer's chief executive told Reuters late on Tuesday.
While the global mining industry is quickly becoming more digitally mature, that transformation continues to focus on productivity and profitability, rather than on much needed innovation, a new study shows.
Other than cash sum, the US miner is receiving 60 million Maverix common shares, representing a 28% stake in the Canadian company and warrants for an additional 10 million common shares.