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McEwen, Primero formalise Black Fox acquisition accord

By:  
Creamer Media Deputy Editor: North America
 
M&A
Gold producer McEwen Mining has signed a binding definitive agreement with Primero Mining to buy the Black Fox Complex, in the historic Timmins mining camp of Ontario, for $35-million, the company announced on Tuesday. In combination with McEwen’s earlier $54-million acquisition of Lexam VG Gold, the Black Fox acquisition is seen as a significant expansion of the junior miner’s production footprint in Canada, adding about 50 000 oz in 2018, and significantly lifting the company’s existing gold resources in the Timmins region.
 
 
 
 
 

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