trending Market Intelligence /marketintelligence/en/news-insights/trending/EEcA4du71bu4XZ2OsfI7bA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Doré Copper secures option to acquire Joe Mann gold mine in Quebec for C$9.3M

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

Mining Exploration Insights: Is the exploration sector back on recovery?

State of the Market: Mining Q2-2019


Doré Copper secures option to acquire Joe Mann gold mine in Quebec for C$9.3M

Doré Copper Mining Corp. said Jan. 2 that it signed an option agreement with owners Ressources Jessie Inc. and Legault Metals Inc. to acquire the Joe Mann gold mine in Quebec.

The mine, which was closed in 2007 during a period of low gold prices, is about 50 kilometers from the company's Copper Rand mill. It produced 1.17 million ounces of gold at 8.26 g/t gold, 607,000 ounces of silver at 5 g/t silver, and 28.7 million pounds of copper at 0.25% copper.

Under the deal, the company has to pay a total of C$5.3 million in cash and C$4.0 million in shares to the vendors over three years.

Doré also has to spend C$2.5 million in qualifying exploration expenditures before the third anniversary of the effective date of the option agreement.

Doré will grant a 2% net smelter return royalty to the vendors. The company will have the option to buy back 1% of the royalty for C$2.0 million, and a further 0.5% for C$4.0 million.