NOVA SCOTIA - HUDBAY MINERALS of Winnipeg is selling its Gays River lead and zinc property to ACADIAN GOLD CORP., which is headquartered in Halifax. The deal for the former producer is worth $7.5 million and is expected to close in the second quarter of 2006.
"The Gays River property is remote from other HudBay assets, and the company is focussed on re-establishing production at its Balmat zinc mine project as well as other growth opportunities," said Peter Jones, president and CEO of HudBay in commenting on the potential sale. "Gays River could offer another mining company a production opportunity, as it has a concentrator already at the site."
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