Global gold-miner Newmont Mining Corp. said Monday that it has secured rights to explore and develop gold in a “highly prospective” area of northwest Canada’s Yukon Territory.
Greenwood Village-based Newmont (NYSE: NEM) said it secured the rights via a private placement investment with Vancouver’s Goldstrike Resources Ltd.
Goldstrike said Newmont bought about $4.5 million worth of its stock, and the firm agreement— including Newmont paying for exploration costs — will total about $10.9 million.
Newmont said the agreement will allow the company to earn up to 80 percent equity in the “Plateau property” as it invests in additional exploration in the area.
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