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Conquest Resources ( (TSE:CQR) ) has shared an announcement.
Conquest Resources has signed a share purchase agreement to acquire all the shares of Carrigel Ltd., giving it full ownership of the Valimaki Gold Project in southwestern Finland. The deal includes 5 million shares and $35,000 on closing, a 2% net smelter royalty with a buyback option for half, and an additional 5 million shares contingent on drilling approvals, subject to regulatory clearances.
The Valimaki project lies in a well-infrastructured, prospective orogenic gold setting that has seen historic exploration by Outokumpu and Finland’s geological survey, which reported notable gold intercepts. Conquest plans spring exploration work, including mapping, prospecting, drone magnetics and induced polarization surveys, signaling a strategic move to diversify beyond Ontario and expand its gold exploration footprint into a mature Nordic mining jurisdiction.
More about Conquest Resources
Conquest Resources Limited is a Toronto-based mineral exploration company focused on base metals and gold, primarily on properties in Ontario. Incorporated in 1945, it holds a 100% interest in the Belfast-TeckMag Project in the Temagami Mining Camp, which it views as its flagship asset with potential for magmatic sulphide, VMS, IOCG, and various gold deposit types.
Average Trading Volume: 202,477
Technical Sentiment Signal: Buy
Current Market Cap: C$8.81M
For an in-depth examination of CQR stock, go to TipRanks’ Overview page.