More Bad News For Cash Strapped WDOAll those high powered executives are expensives. Why Wdo needs them for such a small operation which is only getting smaller!! Here is the latest news.
TORONTO, June 9, 2016 /CNW/ - Wesdome Gold Mines Ltd. (TSX: WDO) ("Wesdome" or the "Company") is pleased to announce the sale of certain mining claims, including the Joubi and Dubuisson Ouest properties and a portion of the Mine Ecole property in Val d'Or Quebec, to Agnico Eagle Mines Limited ("Agnico Eagle").
The sale price of the claims is C$7 million. The transaction includes surface rights, drill core, resource and intellectual data, infrastructure and equipment, where applicable. As part of the transaction, Agnico Eagle has granted to Wesdome a 2% Net Smelter Royalty ("NSR") on the Mine Ecole property and a 3% NSR on the Joubi property.
Rolly Uloth, President and CEO of Wesdome commented, "We are pleased to divest these non-core assets to our neighbour in the camp, Agnico Eagle. They cover corner extensions of the Goldex sill which can be most efficiently explored and developed from Agnico Eagle's state of the art Goldex Mine infrastructure. Agnico Eagle is a first rate mine operator and Wesdome shareholders will retain upside through the royalties."
Read more at https://www.stockhouse.com/news/press-releases/2016/06/09/wesdome-announces-sale-of-certain-mining-claims-adjoining-agnico-eagle-s-goldex#BHFSQiHjwctILkdc.99