https://www.miningweekly.com
Exploration|PROJECT|Projects|rail|Resources
Exploration|PROJECT|Projects|rail|Resources
exploration|project|projects|rail|resources

Focus sells half of its Kwyjibo REE project to Quebec

26th May 2020

By: Creamer Media Reporter

     

Font size: - +

Exploration company Focus Graphite has completed a definitive asset purchase agreement for the sale of the company’s 50% interest in the Kwyjibo rare-earth elements project to Investissement Québec for C$7.24-million.

The Kwyjibo property consists of 116 map-designated claims covering an area of 6 283.5 ha, located a few kilometres north of Manitou Lake.

The Kwyjibo claim block is also located 25 km east of the Québec North Shore and Labrador rail line and is accessible by air from float plane and helicopter bases located in or near Sept-Îles.

“We believe the sale of this asset will unlock significant value to our shareholders and allow Focus Graphite to prioritise its resources on the remaining projects in the company’s development pipeline,” said CEO Gary Economo.

Meanwhile, Focus said that, subject to exchange approval, it would seek to convert up to $1.5-million of loans, owing to two of its directors, to shares at $0.02 a share.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Latest Multimedia

Latest News

Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.166 0.208s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: