Indigenous group says no one consulted them on Seabridge’s KSM project
The Tsetsaut Skii km Lax Ha Nation wants the province to declare that it failed to fulfill its duty to consult with them.
Maple Gold Mines (TSXV: MGM) (FSE: M3G) announced Wednesday it has closed the previously announced strategic investment from Agnico Eagle Mines (TSE: AEM), which was completed at a premium to market at C$0.239 per unit for gross proceeds of approximately C$6.2 million.
Agnico now owns approximately 12.8% of Maple Gold’s issued and outstanding common shares. Prior to this investment, Agnico owned 4.4% of Maple Gold’s issued and outstanding common shares.
The deal will combine Maple Gold’s Douay Project and Agnico’s Joutel Project into a consolidated property package in the Abitibi gold belt of Quebec
The investment is part of the new strategic partnership between Maple Gold and Agnico, which includes C$18 million in exploration funding from Agnico and will combine Maple Gold’s Douay Project and Agnico’s Joutel Project into a consolidated property package in the Abitibi gold belt of Quebec.
“With the closing of Agnico’s investment, Maple Gold’s cash balance is now more than C$12 million which, when combined with the C$18 million in joint venture funding, results in a strong capital position to be directed at exploration, development and new corporate growth opportunities,” said Matthew Hornor, CEO of Maple Gold Mines in a media statement.
“Together with Agnico, we are committed to advancing the consolidated Douay-Joutel property towards significant resource expansion with the aim of establishing an exciting new gold district in the Abitibi.”
At market close Wednesday, Maple Gold Mines’ stock up over 17% on the TSXV. Shares had been traded over 3.3 million times, more than three times the daily average of 770,109. The company has a $C88.1 million market capitalization.
