Placer Dome signs deal with Golden Crescent

The properties cover 42,000 acres in total and exploration is set for this spring and summer.

In return, Placer Dome earned the right to back into Golden Crescent’s properties near Kirkland Lake, Ont., by initiating a feasibility study at the end of any 2-year period when $300,000 has not been spent on the properties.

Placer Dome purchased 600,000 Golden Crescent shares at 50 cents each as part of the deal. A further five million shares may be purchased at a rate of one million per year at a price ranging from $1.50 to $1.75 per share.

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