trending Market Intelligence /marketintelligence/en/news-insights/trending/bkbgu2yfftgtvu6e9im78a2 content esgSubNav
In This List

Falcon Gold to buy Wabunk Bay cobalt project in Ontario

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape

Blog

Essential IR Insights Newsletter Fall - 2023


Falcon Gold to buy Wabunk Bay cobalt project in Ontario

Falcon Gold Corp. said June 13 that it signed a letter agreement to acquire the Wabunk Bay cobalt property comprising two claims covering 304 hectares in northwestern Ontario.

Wabunk Bay, located east of the past-producing Uchi gold mine, is prospective for cobalt, copper, nickel and platinum group metals.

To earn a 100% interest, Falcon Gold will pay C$200,000 in cash and issue 300,000 shares to the unnamed seller, which will retain a 1% net smelter royalty on completion of the acquisition. The company will have the right to buy the royalty back for C$1 million at any time up to the start of production.

The company agreed in February to acquire seven mining claims in the Canadian province, which included a past-producing gold mine. Falcon Gold also has the Burton gold project in Ontario, in which IAMGOLD Corp. agreed to acquire a 75% interest.