Vancouver South Africa’s Gold Fields (GFI-N) has boosted its stake in GoldQuest Mining (GQC-V), a Toronto-based junior focused on gold exploration in the Dominican Republic.
Gold Fields previously entered into a strategic alliance with GoldQuest to carry out generative exploration for gold in the Dominican Republic. The company acquired its initial stake in GoldQuest as part of that transaction.
More recently, Gold Fields acquired 1.2 million units of GoldQuest by way of a private placement "for investment purposes." The latest transaction boosts the company’s holdings to about 12.2% of GoldQuest’s outstanding shares.
GoldQuest holds several prospective properties in the Dominican Republic, including ground surrounding the past-producing Pueblo Viejo gold-silver deposit operated by Placer Dome (PDG-T). A US$10-million feasibility study is under way for a potential new mine at Pueblo Viejo. Placer Dome also holds shares of GoldQuest.
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