For a junior gold explorer trading at 9¢ a share, TomaGold’s (TSXV: LOT) list of joint venture partners on projects in central Canada could come as a surprise.
The company has three joint venture properties in Quebec with Iamgold (TSX: IMG; NYSE: IAG) – Monster Lake, Winchester and Lac-a-l’eau-jaune – and two joint ventures in Ontario with Goldcorp (TSX: G; NYSE: GG) – Sidace Lake and Baird. New Gold (TSX: NGD; NYSE: NGD) joins Goldcorp and TomaGold as a partner on the Baird project.
“Our strategy is to optimize project value through joint ventures with majors,” says David Grondin, TomaGold’s president and CEO. “All the projects are in renowned mining camps close to mining infrastructure, and our goal is to acquire other advanced or producing projects and secure additional joint ventures.”
Earlier this month, Iamgold and TomaGold reported assay results from the first 11 diamond drill holes (5,100 metres) Iamgold completed over the winter at the Monster Lake project, 50 km southwest of Chibougamau.
Iamgold owns a 50% stake in the project, while TomaGold holds 45% and junior explorer Quinto Real Capital (TSXV: QIT) has a 5% interest.
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