trending Market Intelligence /marketintelligence/en/news-insights/trending/ic5gP1Di-PkV5PHseroRUw2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

GoldON to acquire Rainy gold project in option deal

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Video

COVID-19 Impact & Recovery: Metals and Mining Outlook for H2 2021

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow

Blog

Mining M&A in 2020 — Deal activity bounces back in H2 after disrupted H1


GoldON to acquire Rainy gold project in option deal

GoldON Resources Ltd. said Oct. 4 that it entered into an option deal with a private vendor to fully acquire the Rainy gold project in Ontario.

Rainy contains 26 new claims, including three distinct, non-contiguous claim blocks. Rainy also adjoins to New Gold Inc.'s Rainy River gold project, which is slated to begin production in mid-2017.

In exchange, GoldON will pay C$89,716.50 in cash over a four-year period and issue 100,000 of its shares over a two-year period to the private vendor. The vendor retains a 2% net smelter returns royalty, of which GoldON may repurchase half for C$1 million.