KWG Resources Inc C.CACR

Alternate Symbol(s): KWGBF | C.CACR.A

Metals & Mining Industrial Metals & Minerals

KWG Resources Inc. is a Canada-based exploration stage company. It is focused on acquisition of interests in, and the exploration, evaluation and development of deposits of minerals including chromite, base metals and strategic minerals. It is the owner of 100% of the Black Horse chromite project. It also holds other area interests, including a 100% interest in the Hornby claims, a 15% vested interest in the McFaulds copper/zinc project and a vested 30% interest in the Big Daddy chromite project. It has also acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. It also owns 100% of Canada Chrome Corporation, a business of KWG Resources Inc., (the Subsidiary), which staked mining claims between Aroland, Ontario (near Nakina) and the Ring of Fire. The Subsidiary has identified deposits of aggregate along the route and made an application for approximately 32 aggregate extraction permits.

CSE:CACR - Post by User

KWG Resources Inc

Bullboard Posts

Post by oreelseon Dec 22, 2015 11:43am

141 Views

Post# 24404878

Glencore & Goldcorp Joint Venture. Might KWG be next?

Marketwire December 21, 2015 12:06pm

MONTREAL, QUEBEC--(Marketwired - Dec. 21, 2015) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT)(OTCQX:MHREF) announced today the execution of a Property Rights Exchange Arrangements Agreement (the "PREAA") between the Company, International Explorers and Prospectors Inc. ("IEP"), Glencore Canada Corp. ("Glencore") and Goldcorp Canada Ltd. ("Goldcorp") with respect to the sale by the Company and IEP of certain properties located in Hoyle and Matheson Townships in Timmins. The PREAA sets out the arrangements among the parties related to, among other things, the consideration to be received by the Company for the sale of its interest in the properties, being CAD$500,000 and certain net smelter royalties, all as detailed below.

Sale of Properties to Glencore and Goldcorp

The Company and IEP own the properties listed below (the "Properties") pursuant to their involvement in a contractual joint venture named the "Matamec-IEP Matheson Joint Venture" (the "MJV").

 a. The "Colbert/Anglo Property", comprising freehold mining and surface rights located in Timmins, Ontario, east of the Hoyle Pond Gold Mine; and b. The "Northern Property", comprising a portion of leasehold surface rights located in Timmins, Ontario, east of the Hoyle Pond Gold Mine.

Upon closing of the transactions contemplated by the PREAA, the Company and IEP will sell (a) to Glencore, the Northern Property as well as the surface rights to the Colbert/Anglo Property; and (b) to Goldcorp the mining rights in relation to the Colbert/Anglo Property. The Company and IEP will retain all mining rights in relation to the Northern Property.