Gold producer Corona (TSE) has increased its interest in Newhawk Gold Mines (TSE) by participating in three flow-through share agreements valued at $2.1 million.
By acquiring an additional 913,001 shares to bring its ownership to 5.4 million shares, Corona’s interest in Newhawk was increased to 42.4% from 40%.
Newhawk owns 60% and is operator of the Sulphurets gold-silver project in northwestern British Columbia currently at the feasibility stage. The remaining 40% is held by Granduc Mines (TSE).
Corona said it acquired the shares “for investment purposes” and it may increase or decrease its holdings as circumstances require.
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