Reunion’s profile bolstered as Barrick sinks C$9.12m to take 15% stake
VANCOUVER (miningweekly.com) – The TSX-V-listed equity of Canadian exploration and development company Reunion Gold jumped more than 10% on Friday after announcing that the world’s largest gold producer by output, Barrick Gold, has taken a 15% stake.
NYSE- and TSX-listed Barrick has acquired 48-million Reunion shares, through a nonbrokered private placement of 48-million shares, at C$0.19 apiece.
Barrick said it acquired the shares for investment purposes.
Longueuil, Quebec-based Reunion is focused on advancing gold projects in the highly prospective and under-explored Guiana Shield gold district, located on the northern edge of the Amazon Craton of South America. The company’s portfolio includes the Dorlin project, in which it has an option to earn a 75% stake in its 100%-owned Boulanger project, and the Haute Mana project, in which it can earn up to 80% interest – all located in French Guiana.
In Guyana, Reunion has been assigned an option to acquire a 100% interest in the Aremu gold project, an early stage project covering a large 10-km-long gold system with extensive alluvial/colluvial mining centred on the Aremu river.
According to Reunion, the Guiana Shield is well-endowed with substantial gold deposits. No fewer than 15 gold mines and deposits hosting an estimated 110-million ounces of gold have been recognised from Venezuela to French Guiana. Most of the existing deposits were discovered by alluvial miners.
Reunion's shares jumped C$0.02 apiece on Friday to close at C$0.16 each.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation