Premier sells noncore properties
Gold miner Premier Gold Mines has netted $2.1-million from divesting eight noncore properties and one subsidiary in four transactions.
The properties include the Geisler property, located in the Red Lake district of Ontario, the Faymar property in Timmins, Ontario and the Santa Teresa property, located in Baja, Mexico.
The company also entered into an option agreement for the sale of Goldstone Resources, the subsidiary that holds the historic Northern Empire, Leitch and Sand River mines, as well as other exploration-staged projects in the Beardmore, Ontario region.
As a result of these transactions, the company has also gained access to about $1.23-million in cash, which was previously restricted for reclamation obligations associated with the Northern Empire mill.
Premier has two producing gold mines – a 40% interest in the South Arturo mine in Nevada, and 100% of Mercedes, in Mexico, as well as mine development opportunities at McCoy-Cove in Nevada and Hardrock in Ontario.
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