Kinross buys shares in explorer Millrock
TORONTO (miningweekly.com) – Toronto-based gold-miner Kinross Gold has bought 2,19-million units – each comprising one share and one half of a purchase warrant – in exploration firm Millrock Resources.
Kinross bought the units in a private placement, for a total of C$350 000, Millrock reported.
The placement will give Kinross a 6,46% interest in the company.
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“Millrock will use these funds to carry out reconnaissance surveys and property acquisitions in a particular area of mutual interest in Alaska, a state in which Kinross is a premier gold producer and in which Millrock has substantial expertise in the discovery and exploration of gold deposits,” said CEO Gregory Beischer.
TSX Venture Exchange-listed Millrock is focused on exploring for gold deposits in Alaska and copper/gold porphyries in Arizona.
Categorised as: Gold News