Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Vancouver’s Monument Mining (TSX-V:MMY) has entered into an agreement to purchase 100% of the Tuckanarra gold project in Western Australia from Phosphate Australia Limited.
Monument will pay AUD$2,000,000 (worth about CAD$2,037,000) in cash and the issue of 10,000 Monument common shares with a deemed value of CAD$0.25 pershare.
The project, which is located in the Murchison Mining District about 900 kilometres north of Perth, covers almost 100 square kilometers.
Monument owns the Selinsing gold mine in Malaysia and is in the exploration phase for other projects in both that country and Australia.
The deal is subject to acceptance by the TSX Venture Exchange.
