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McFarlane Lake Mining Limited ( (TSE:MLM) ) has provided an announcement.
McFarlane Lake Mining Limited has completed the sale of its High Lake and West Hawk Lake properties to Total Metals Corp. for $9.25 million, comprising cash and shares. This strategic move strengthens McFarlane’s financial position, allowing it to concentrate on its Juby Gold Project, where it plans to begin drilling and further resource expansion. The sale aligns with McFarlane’s focus on advancing the Juby Project and reviewing environmental proposals, with further development plans to be shared with stakeholders.
More about McFarlane Lake Mining Limited
McFarlane Lake Mining Limited is a Canadian gold exploration company focused on advancing its flagship Juby Gold Project located near Gowganda, Ontario, within the Abitibi Greenstone Belt. The company holds a portfolio of 100%-owned gold assets across Ontario, including the McMillan Gold Mine and Mongowin properties, as well as the Michaud/Munro properties.
Average Trading Volume: 1,032,113
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$31.11M
For detailed information about MLM stock, go to TipRanks’ Stock Analysis page.