The companies jointly purchased the 29.33% interest of U.S. Gold (NASDAQ) for about $4.1 million(US). Closing of the deal, subject to final documentation, is expected by the end of the year.
The transaction will leave Corona and Rayrock each with a 44% interest in Dee. The remaining 12% is owned by Nevada resident John Livermore.
The Dee mine, which produced 49,788 oz gold in 1988, sits at the northern end of the Carlin belt. Elsewhere in the state, Corona and Rayrock share interests in two other gold mines, Pinson and Marigold. Corona also owns 100% of the Santa Fe gold mine in Nevada.
]]>
Be the first to comment on "Corona, Rayrock combine to buy U.S. Gold’s 29% stake in Dee mine"