trending Market Intelligence /marketintelligence/en/news-insights/trending/tTmbAef_Z4jMxeqOyogKFQ2 content esgSubNav
In This List

King's Bay selling Menary gold project to focus on cobalt

Blog

Post COVID-19: Gold Mining and Production

Blog

Metals & Mining Insights May 2021

Blog

European Energy Insights - May 2021

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective


King's Bay selling Menary gold project to focus on cobalt

King's Bay Gold Corp. agreed to sell its early stage Menary gold project in Ontario to newly formed private company Destroismaison CLM Holdings Corp.

As consideration, Destroismaison will issue 15% of its existing shares to the company and will retain an option to repurchase the 15% stake for C$100,000 within two years, according to a March 28 statement.

The deal is subject to exchange approval.

"This transaction allows King's Bay the ability to focus on our stated goal of exploring for cobalt and other high tech metals, while maintaining exposure to the potential of one of our noncore assets," King's Bay CEO Kevin Bottomley commented.