First Mining partners with Big Ridge on Newfoundland gold project - Canadian Mining Journal

First Mining partners with Big Ridge on Newfoundland gold project
April 6, 2021
Topics
Developer
First Mining Gold (TSXV: FF) has entered into a definitive agreement with
Big Ridge Gold (TSXV: BRAU), allowing the explorer to earn up to an 80% stake in the past-producing Hope Brook gold project in southwestern Newfoundland.
Big Ridge may earn up to 80% in Hope Brook through a two-stage, five-year earn-in that calls for a total of $20 million in spending on the project, the issue of 36.5 million of its shares to the vendor and a $2-million payment to First Mining at the start of commercial production. First Mining would keep a 1.5% net smelter return (NSR) royalty on the property and have its interest carried for free through to a feasibility study.

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