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An announcement from McFarlane Lake Mining Limited ( (TSE:MLM) ) is now available.
McFarlane Lake Mining Limited has completed the sale of its High Lake and West Hawk Lake properties to Total Metals Corp. for $9.25 million, receiving cash and shares in Total Metals. This strategic move allows McFarlane to concentrate on its Juby Gold Project, which has a significant mineral resource estimate and is poised for further exploration and development. The sale strengthens McFarlane’s financial position, enabling it to fund planned drilling and environmental reviews at Juby, enhancing its focus on expanding gold resources.
More about McFarlane Lake Mining Limited
McFarlane Lake Mining Limited is a Canadian gold exploration company focused on advancing its flagship Juby Gold Project, located near Gowganda, Ontario, within the established Abitibi Greenstone Belt. The company holds a portfolio of 100%-owned gold assets across Ontario, including the past-producing McMillan Gold Mine and Mongowin properties, and the Michaud/Munro properties. McFarlane is a reporting issuer in Ontario, British Columbia, and Alberta.
Average Trading Volume: 1,032,113
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$31.11M
Find detailed analytics on MLM stock on TipRanks’ Stock Analysis page.