Junior Madsen Gold (TSE) intends to buy the facilities of the Dona Lake mine, near Pickle Lake, Ont.
Madsen will pay $820,000 to Dona Lake Gold Mines for the plant, which includes the 500-ton-per-day mill, refinery, assay office, shop tools, office equipment and certain electrical equipment.
Removal of the mill will start next spring and is expected to be completed by next July. Madsen will fund the purchase through private placements. Breakwater subsidiary raises funds
A subsidiary of Breakwater Resources (TSE) has completed a tax-structured financing agreement with a Canadian investor.
The subsidiary issued a combination of debentures, preferred shares and common shares.
The funds raised were used to acquire various gold properties in Quebec from an affiliated company for $22.3 million.
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