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McFarlane Lake Mining Limited ( (TSE:MLM) ) just unveiled an announcement.
Aris Mining Corporation has announced the sale of its Juby Gold Project in Ontario, Canada, to McFarlane Lake Mining Limited for a total consideration of US$22 million. This strategic move aligns with Aris Mining’s focus on Latin America, while McFarlane aims to enhance its portfolio and shareholder value by transforming into a gold exploration and development company. The transaction is contingent on McFarlane raising at least US$10 million and meeting other customary conditions, with the expected closure within 90 days.
More about McFarlane Lake Mining Limited
Aris Mining Corporation, established in September 2022, is a gold mining company focused on Latin America. It operates two underground gold mines in Colombia and owns a gold/copper project in Guyana. The company aims to blend current production with growth through expansions, exploration, and development projects.
Average Trading Volume: 312,056
Current Market Cap: C$13.53M
See more insights into MLM stock on TipRanks’ Stock Analysis page.