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Maple Gold Mines Ltd V.MGM

Alternate Symbol(s):  MGMLF

Metals & Mining Gold
Maple Gold Mines Ltd. is a Canadian-advanced exploration company. It is focused on advancing the district-scale Douay and Joutel gold projects located in Quebec's prolific Abitibi Greenstone Gold Belt. In addition, the Company holds an option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel mining complex. The Douay Gold Project is located over 55 kilometers (km) southwest of Matagami and 130 km north of Amos, Quebec, by road. The Joutel Gold Project is 100% owned by the 50/50 Joint Venture (JV) between Maple Gold and Agnico Eagle Mines Limited (Agnico). Joutel Gold Project is located approximately 70 km southwest of Matagami and 125 km north of Amos, Quebec, by road. The Eagle Mine Property is a 77-hectare property located several kilometers west of the former mining town of Joutel in mining-friendly Quebec, Canada. Its Morris property is located approximately 30 km east-northeast of the town of Matagami, or over 110 km north-east from the Douay camp.


TSXV:MGM - Post by User

Maple Gold Mines Ltd > .....AGNICO IS IN FOR approx. $30,000,000.00--& they are....
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Comment by Angelique01on Sep 30, 2021 6:36pm
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Post# 33950236

RE:RE:.....AGNICO IS IN FOR approx. $30,000,000.00--& they are....

RE:RE:.....AGNICO IS IN FOR approx. $30,000,000.00--& they are....
ikny wrote:
 i thought it was 18,000,000C


Taking into account everything (strategic ownership included) I get around $26 M 

Actual cash spent to date
$6.2M     (strategic investment  Oct 2020 to bring investment to 12.8%)
$1.6M     (initial 4.4% investment)
$4.0M    1st year funding
$11.8M

14.0M    (remaining funding (4+5+5) over the next 3 years)
25.8M

My question has always been why did Agnico Eagle pursue a joint venture and not an outright acquisition of Maple.   If their due diligence and examination of all the existing drill cores indicated such a promising property why delay owning it 100%.  Instead of 12.8% go for the 100% ownership right away by bidding lets say $150M for the entire company.
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