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O3 terminates option to acquire Aurbel mill

3rd May 2024

By: Creamer Media Reporter

     

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Exploration and development company O3 Mining has terminated its option with Eldorado Gold to acquire the Aurbel mill, which is located about 10 km from its Alpha property in Quebec.

In 2022, O3 Mining was granted an option to acquire the mill, tailings and associated permits for C$5-million and annual maintenance costs of C$87 500 a year to maintain the mill during the option term.

“The decision to terminate the option aligns with O3 Mining's strategic focus on optimising resource allocation towards the development of the Marban Alliance project, improving our mining engineering and estimation parameters, and pursuing potential processing and tailings synergies with industry peers,” the company said in a statement on Thursday.

O3 Mining will continue its exploration efforts in the Casa Berardi district and brownfield targets at Marban Alliance.

Edited by Creamer Media Reporter

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