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Tuesday, 14th September 2004 (4335 views)

Canadian mining firm Sudbury Contact Mines has revealed that it is to sell its gold and other precious metal exploration properties.<BR/><BR/>According to the firm, the board of directors has approved the sale and the assets will be sold to Agnico-Eagle Mines - a 44.2 per cent shareholder.<BR/><BR/>A purchase price of $3.29 million was based on a valuation and various consultations.<BR/><BR/>Providing regulatory approval is obtained the deal is set to go through by September 30.<BR/><BR/>In addition funds made from the transaction are to be used for general corporate purposes.<BR/><BR/>Sudbury is an exploration and development company with gold and diamond properties in Quebec, Ontario, Northwest Territories, Newfoundland, Idaho and Nevada.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3426061"/>

 

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