KLONDEX MINES LTD. T.KDX

Metals & Mining Industrial Metals & Minerals

"Klondex Mines Ltd is a gold and silver producer engaged in exploration, development, and production of its properties. The company has interests in three mineral properties: the Fire Creek Mine, and the Midas Mine and ore milling facility, both of which are located in the state of Nevada, USA, and the True North Gold Mine (formerly the Rice Lake Mine) and mill in Manitoba, Canada. The revenue of the company is generated from the sale of gold and silver."

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KLONDEX MINES LTD. > Background History

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Post by JRaffleson Jul 26, 2016 1:04pm

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Post# 25085292

Background History

In 2014 Waterton Global Resources raised $716m and used part of these funds to purchase Midas, Hollister and the Esmeralda Mill (link below)

https://blogs.wsj.com/moneybeat/2014/03/28/canadian-firm-raises-716-million-for-new-mining-fund/

Midas was hived out to KDX in fairly short order.

The Hollister purchase by Waterton for the liquidation of Great Basin seemed to require input to turn around.

Firstly, there were significant lay offs at Hollister (link below).
Secondly, Waterton achieved significant permitting milestones in March 2014.
In addition, the drilling was undertaken, although details of this is not given in the press release below.