Maudore Minerals Ltd. (MAO.V: Quote) said it has purchased the Sleeping Giant Mill and an adjacent tailings facility from North American Palladium Ltd. (PAL: Quote,PDL.TO: Quote), through the acquisition of all of the outstanding shares of NAP Quebec Mines Ltd. The company noted that the acquisition advances its strategy of becoming a dominant consolidator in the prime Quebec mining region.
The purchase price paid by Maudore Minerals consisted of $18 million in cash and 1.5 million common shares of Maudore, which shares are listed for trading on the TSX Venture Exchange. The cash consideration will be funded by borrowings under a $22 million secured credit facility by FBC Holdings Sarl.
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by RTT Staff Writer
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