Previous to placement, Agnico held roughly 40.85 million or 11.97% of Maple’s issued inventory. It now owns 19.99% on a non-diluted foundation.
The location was arrange as a part of the businesses’ settlement final week to finish their three way partnership in Québec, with Agnico transferring the Douay and Joutel properties to Maple in trade for a future buy possibility on these belongings ought to sure growth milestones be achieved.
The web proceeds are supposed for exploration on the 2 properties, each positioned alongside the Casa Berardi-Douay gold development, a construction inside the prolific Abitibi greenstone belt recognized to host world-class gold deposits similar to Beattie and the Canadian Malartic.
On the time, Maple Gold’s CEO Kiran Patankar known as the JV restructuring a “transformative, value-unlocking transaction” that resulted from teamwork between the businesses, and it represents a “win-win for each events” for the continued development of the 2 tasks.
Douay is a district-scale 357 km2 property with a longtime mineral useful resource of 10 million tonnes grading 1.59 g/t gold for 511,000 contained ounces within the indicated class and 76.7 million tonnes grading 1.02 g/t gold for two.53 million contained ounces within the inferred class.
The Joutel venture, positioned south of the Douay property is host to Agnico’s past-producing mine complicated, with whole historic gold manufacturing of 1.1 million oz. at a mean grade of 6.5 g/t gold from 1974 to 1993.
“With our steadiness sheet strengthened and our deliberate 2024 exploration packages now absolutely financed, we’re excited to observe up on the numerous useful resource enlargement and discovery potential throughout our district-scale gold tasks in Québec,” Patankar stated in Monday’s information launch.