A new strategic partnership and equity investment by Kirkland Lake Gold (TSX: KL; NYSE: KL; ASX: KLA) into Orefinders Resources (ORX: TSXV) and Mistango River Resources (CSE: MIS) will allow the two Canadian juniors to “unlock the full potential of their assets,” says Stephen Stewart, CEO of Orefinders and chairman of Mistango.
Under the proposed partnership agreement, Kirkland Lake Gold has acquired a 9.9% stake in each of the juniors. Additionally, Kirkland Lake will also have the option to acquire up to a 75% interest in specific projects under the companies’ portfolio of assets in exchange for a total combined $120 million investment. This is the second high-profile investment that Orefinders and Mistango have received in the last year as billionaire investor, and former chairman of Kirkland Lake Gold, Eric Sprott has made four separate investments into the two companies over that period.
ETC