Junior companies join up in Cuba

Juniors MacDonald Mines Exploration (MMP.A-A) and Golden Hill Mining (GHMC-C) are merging their respective interests in the Golden Hill epithermal gold property in east-central Cuba.

In return for Golden Hill’s interest, MacDonald will issue 21.5 million common shares and 6 million common share purchase warrants. Each warrant will be priced at 78 cents, with one half exercisable within 90 days, and the other half within 180 days, of the transaction’s closing date.

Alberta-based Mill City Gold Mining (MIY-V) currently owns 42% of the shares of Golden Hill. GeoMinera, which is owned by the Cuban government, has a 50% non-operating interest in the property.