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Alamos Gold Announces US$1 Billion Investment Treaty Claim Against the Republic of Turkey
Alamos Gold Inc.April 20, 2021 GMT
TORONTO, April 20, 2021 (GLOBE NEWSWIRE) Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or, including its direct and indirect subsidiaries, the “Company”) regrets to announce that its Netherlands wholly-owned subsidiaries Alamos Gold Holdings Coöperatief U.A, and Alamos Gold Holdings B.V. (the “Subsidiaries”) will file an investment treaty claim against the Republic of Turkey for expropriation and unfair and inequitable treatment, among other things, with respect to their Turkish gold mining project. The claim will be filed under the Netherlands-Turkey Bilateral Investment Treaty (the “Treaty”), and is expected to exceed $1 billion, representing the value of the Company’s Turkish assets.
Sonoro Gold Announces Closing of Oversubscribed $3 1 Million Private Placement
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Figure 2: Photo of the decommissioned Grant Mine headframe (left) and core storage warehouse at Grant Mine (right). Drill core from Grant Mine, other parts of the Ester Dome project, and the Treasure Creek project have all been preserved here.
Plans are being made to do an initial round of drilling in Summer 2021. The longitudinal section presented in Figure 3 illustrates the historic mine workings and drill intersections obtained in the 1990s by operators American Copper & Nickel (“ACNC”) and Silverado Gold Mines.
No exploration work has been carried out since the 1990s. Millrock has not independently verified the drill intersections indicated on Figure 3.
Figure 2: Photo of the decommissioned Grant Mine headframe (left) and core storage warehouse at Grant Mine (right). Drill core from Grant Mine, other parts of the Ester Dome project, and the Treasure Creek project have all been preserved here.
Plans are being made to do an initial round of drilling in Summer 2021. The longitudinal section presented in Figure 3 illustrates the historic mine workings and drill intersections obtained in the 1990s by operators American Copper & Nickel (“ACNC”) and Silverado Gold Mines.
No exploration work has been carried out since the 1990s. Millrock has not independently verified the drill intersections indicated on Figure 3.