MRO Magazine

First Mining’s acquisition of Duparquet Gold Project

July 22, 2022 | By Monica Ferguson

Map of the Duparquet Project (CNW Group/First Mining Gold Corp.) Map of the Duparquet Project / Photo: First Mining Gold.

Map of the Duparquet Project / Photo: First Mining Gold Corp

First Mining Gold made an offer to acquire all issued and outstanding shares of Beattie Gold Mines located in Quebec.

First Mining, directly and through its wholly owned subsidiary, Clifton Star Resources already owns approximately 25.3 per cent of the issued and outstanding shares of Beattie Gold.  The total consideration of the Beattie Offer is $4.43641 cash per Beattie Gold share and 35 First Mining Shares per Beattie Gold share for a total cash consideration of $6,227,176 and the issuance of 49,127,820 First Mining common shares.

“This transformational acquisition has been a few years in the making and grows First Mining’s M&I gold resources by 40 per cent and inferred gold resources by 50 per cent,” said Keith Neumeyer, chairman, First Mining Gold.  “When First Mining acquired Clifton Star in 2016, we always contemplated the opportunity to consolidate this advanced stage, highly prospective project. Duparquet fits perfectly with First Mining’s strategy and the capabilities of our team to advance and de-risk a second world class asset.”



Stories continue below

Print this page