TORONTO (miningweekly.com) – Toronto-listed junior QMX Gold has received regulatory approval from the Quebec government to proceed with custom milling ore from the McGarry mine, which is owned by fellow TSX-listed miner Armistice Resources.
QMX and Armistice were now making final preparations for QMX's Aurbel mill to receive ore transported by Armistice from the McGarry mine in the next few weeks.
Under the terms of the agreement, QMX would be responsible for the handling, milling and refining of ore and tailings disposal from ore delivered by Armistice. The term of the agreement is for a minimum of one year and a minimum of 30 000 t of ore.
Armistice had an initial 10 000 t of development ore ready in stockpile to be shipped. Subsequent deliveries would be made in amounts of about 5 000 t/m.
"Now that regulatory approval has been received, we have begun preparations to receive the initial shipment of ore from Armistice, expected by mid-July. We look forward to working with Armistice under this mutually beneficial agreement that provides the necessary ore processing for Armistice and incremental cash flow for QMX Gold,” QMX president and CEO Francois Perron said.