Wesdome Gold (WDO.TO) has sold some mining claims to Agnico Eagle Mines (AEM.TO, AEM) for C$7M in cash as well as a 3% NSR on Joubi and a 2% NSR on the Mine Ecole zone. These projects were non-core assets for Wesdome, and Agnico really wanted to own these pieces of land as it would simplify its exploration programs considering the claims sold by Wesdome were covering the corner extensions of the Goldex mine near Val D’Or, Québec.
This seems to be a good deal for both parties; Agnico now has unrestricted access to all parts of the Goldex mine as well as the zones it would like to explore, whilst Wesdome gets some cash to boost its treasury.
Go to Wesdome’s website
The author has no position in Wesdome Gold or Agnico Eagle Mines Please read the disclaimer
