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Providence Gold Mines Inc ( (TSE:PHD) ) has shared an announcement.
Providence Gold Mines Inc. has entered an option agreement to acquire the La Dama de Oro Gold Property, a historical gold mine located in the Silver Mountain Mining District, California. This acquisition is subject to regulatory approval and involves a phased issuance of common shares and expenditures over four years. The property is at an early exploration stage, with potential for significant gold and silver mineralization along the La Dama de Oro Fault. This strategic move could enhance Providence’s exploration portfolio and potentially increase its gold production, benefiting stakeholders by leveraging the property’s historical production potential.
More about Providence Gold Mines Inc
Providence Gold Mines Inc. operates in the mining industry, focusing on the exploration and development of gold properties. The company is engaged in acquiring and developing historical gold mines, with a market focus on expanding its gold production capabilities.
Average Trading Volume: 93,571
Technical Sentiment Signal: Sell
Current Market Cap: C$1.27M
Learn more about PHD stock on TipRanks’ Stock Analysis page.