DENVER BUSINESS JOURNAL - 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.
Read more at the Denver Business Journal: http://bizj.us/1p31z7
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