trending Market Intelligence /marketintelligence/en/news-insights/trending/qMqYCrlxWnFjxS7POJOBlA2 content esgSubNav
In This List

Emgold secures option to acquire 55% stake in East-West gold property

Blog

Gold Market Outlook

Blog

Insight Weekly: US stock market downturn; Chinese bank earnings; Europe's big tech bills

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices


Emgold secures option to acquire 55% stake in East-West gold property

Emgold Mining Corp. said Dec. 11 that it secured an option to acquire a stake of up to 55% in the East-West gold project in Quebec from an unnamed private individual.

Emgold will purchase an initial 50% stake by paying 4,000,000 common shares and C$135,000 in staged cash payments over nine months.

To acquire an additional 5% stake for a total of 55%, Emgold must invest at least C$200,000 in the property within three years of the original terms agreed Nov. 27, 2018, between the vendor and Knick Exploration Inc., which owns 50% of the project.

After Emgold completes the first stake purchase, the junior gold and base metal explorer intends to form a joint venture with Knick and become the property's operator.