North American Palladium announces the sale of its gold division North American Palladium announced that it has closed the sale of its Quebec-based gold division, NAP Quebec Mines, which holds the Vezza mine, the Sleeping Giant mine and mill complex, and its nearby portfolio of exploration properties, to Maudore Minerals . A binding agreement in respect of the sale was entered into on closing. The purchase price paid by Maudore consisted of $18M in cash and 1.5M common shares of Maudore, which shares are listed for trading on the TSX Venture Exchange. The shares are subject to a four-month hold period in accordance with Canadian securities laws. An adjustment to the purchase price for gold and silver inventory will also result in additional payments to NAP post closing. NAP intends to use the net proceeds from the sale to fund the mine expansion at its Lac des Iles palladium mine in Ontario.
News For PAL From The Last 14 Days
Check below for free stories on PAL the last two weeks.