The total price to buy the interest of Cambior (TSE) in the Douay gold exploration project in the Casa Berardi region of Quebec is $750,000 plus shares of the junior mining company involved in the venture. Cambior has a 20.89% interest in the project. Inco (TSE), the operator, is paying $545,250 to increase its stake to 53%. Societe d’Exploration Miniere Vior is paying $204,750 in addition to 500,000 shares of Vior to boost its stake in the property to 47%. The transaction is subject to regulatory approval.
Inco and Vior report a work program on the property is expected to be under way in the near future.
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