Negotiations have been terminated and will not be resumed regarding the purchase of the processing facility of ERG Resources Inc. in Timmins, Ont., Royal Oak Mines (TSE) reported.
Royal Oak said it was unable to conclude a final agreement with a secured creditor of the mill, which was placed into operation in the later 1980s to process the tailings of old gold-mining operations in the Timmins area. ERG, part of the Pamour group of companies, was not among the Pamour assets taken over by Royal Oak.
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