OTTAWA (dpa-AFX) - Premier Gold Mines Limited (PG.TO) announced it has entered into an agreement to acquire Goldcorp Inc.'s (G.TO, GG) 40% interest in the South Arturo Mine Project. The South Arturo Mine Project is located 8 kilometres northwest and along strike from Barrick Gold Corp.'s Goldstrike Operations, within the Carlin Trend in Nevada.
Premier has agreed to pay Goldcorp US$20 Million at closing and transfer to Goldcorp 5% of its interest in the Rahill-Bonanza Joint Venture in Red Lake, subject to Barrick not exercising its right of first refusal in respect of the South Arturo Mine Project and completion of definitive documentation.
Concurrent with the acquisition, Goldcorp has agreed to complete a private placement with Premier in the amount of C$12.5 Million.
Copyright RTT News/dpa-AFX