Canadian Mining Journal


GOLD: Rob McEwen boosts interest in Abitibi Royalties

QUEBEC – Rob McEwen has boosted his interest in Abitibi Royalties of Val d’Or with the purchase of 439,084 Abitibi shares for approximately $2.3 million. That increases his interest in the company to 12.3% from 8.7%. Abitibi president and CEO Ian Ball has agreed to purchase18,832 shares for about $100,000.

Abitibi Royalties holds a 3% net smelter return on the Odyssey North discovery, Jeffrey zone and the eastern portion of the Barnat Extension and a 2% NSR on portions of the Gouldie and Charlie zones all at the Canadian Malartic mine near Val-d’Or. The company also owns common shares in Yamana Gold and Agnico Eagle Mines, the joint venture partners of the Canadian Malartic mine.

In addition, the company says it is building a portfolio of royalties on early stage properties near producing mines and it holds 100% title to the Luc Bourdon and Bourdon West prospects in the Ring of Fire, Ontario.

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