Generation Mining (GENM.TO) has now completed the acquisition of the remaining 16.5% stake in the Marathon PGM project it didn’t own yet. Sibanye-Stillwater (SBSW) is the seller and will receive just under 21.8 million shares and now is by far the largest shareholder of Generation Mining as it now owns 32.8 million shares for a 19.1% stake. Completing the acquisition of the remaining stake in Marathon PGM was a requirement for the Wheaton Precious Metals (WPM, WPM.TO) gold and platinum stream to go through, and we expect that agreement to be officialised soon.
Generation has also signed a MOA with the Biigtigon Nishnaabeg with Generation committing to work with BN to create job opportunities and to partner with the community to create a win-win situation. Additionally, some of the contracting jobs at the Marathon PGM project will be awarded to BN as part of the MOA, which is a component of the Community Benefit Agreement.
Disclosure: The author has a long position in Generation Mining. Generation is a sponsor of the website. Please read our disclaimer.
