from Kerry Lutz's Financial Survival Network
Orefinders and Mistango Resources just announced a strategic partnership with major producer Kirkland Lake Gold that should propel the shares of both companies forward. Stephen Stewart, CEO of our sponsor Orefinders Resources and Chairman of Mistango River Resources joined us to explain the significance of the event. We were quite interested considering we’re an Orefinders shareholder. Stephen was excited to discuss the new JV agreement, option and equity investment that he believes is a transformational event for the companies. They’ve now got $15 million in cash along with a major technical boost from Kirkland’s renowned team which ideally situates them to make significant discovers.
While Stephen admits some of the potential upside was relinquished in the deal, he believes the benefits far out way the costs. We all know that mining is a very risky business and he views this transaction as a de-risking event.
Much of the Orefinders/Mistango projects adjoin Kirkland’s Flag Ship Macassa Mine, one of the highest-grade mines in the word, so the synergies are quite apparent. The earn-in aspect of the deal could see Kirkland owning up to 75% of both companies and insures that things will move forward to the benefit of all. Definitely exciting times for all three companies.
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from Kerry Lutz Podcasts – Financial Survival Network https://ift.tt/3xBelbi
