Yorbeau sells Rouyn property to Australian investors
Toronto-listed Yorbeau Resources has announced the sale of its Rouyn property, in Quebec, to an Australian private company backed by high-net-worth individuals.
Lac Gold will buy the asset from Yorbeau for C$25-million and a 2% net smelter royalty (NSR) on any minerals produced from the property.
Lac Gold chairperson Matthew Keegan describes the Rouyn property as an “outstanding opportunity”. “We are focused on Quebec, being ranked as one of the world’s most attractive mining investment jurisdictions and it is apparent that the Yorbeau team has defined a considerable mineral endowment with clear potential to rapidly increase in size.”
Upon the sale of the Rouyn property, the Yorbeau intends to focus on seeking a partner to further explore and develop its Scott Lake zinc/copper deposit near Chibougamau, Quebec.
Yorbeau president and CFO G Bodnar says the sale marks a new beginning for the company.
“The proceeds from the sale and the 2% NSR will allow Yorbeau to shore up its balance sheet for many years to come and allocate funds to further delineate resources and conduct work on our numerous other properties. The Yorbeau exploration team, led by Laurent Hallé, will now have the necessary funds to accelerate exploration on key target sites.”
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