Shareholders of Nova-Cogesco Resources (ME) voted at a recent meeting in Montreal in favor of the sale of their company’s 20% interest in the Silidor gold mine just outside of Rouyn-Noranda, Que. Cambior (TSE) has offered to buy Nova-Cogesco’s interest for $16.7 million, which would boost Cambior’s stake in the mine to 45%. Mine operator Noranda (TSE) owns the remaining 55%.
Nova-Cogesco intends to use a portion of the money to pay off a gold loan owed to Cambior.
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