By Adriano Marchese
First Mining Gold said that it will sell its remaining stake in a Newfoundland mining project to Big Ridge Gold in a cash and stock deal.
The miner said Monday it entered into an agreement with Big Ridge Gold to sell its last 20% interest in the Hope Brook Gold Project for 3 million Canadian dollars ($2.2 million) and 7 million Big Ridge shares.
Big Ridge shares have been performing well in 2025, rising nearly 24% and closing Friday at C$0.13 apiece.
At that price, shares would be worth about C$910,000.
First Mining said it will keep its exposure to the project through its position in Big Ridge.
The deal is expected to close in the third quarter of this year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
July 07, 2025 07:36 ET (11:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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