Wawa-area miner Wesdome Gold Mines has signed a letter of intent to acquire exploration neighbour Windarra Minerals.
The proposal involves Wesdome acquiring all of Windarra's issued and common shares on the basis of one common share for each ten Windarra shares.
Now in its 26th year of operation, Wesdome has gold mines in Wawa and Val d'Or, Que.
Windarra has exploration properties in the vicinity of Wesdome's Eagle River Mine and Mishi pit near Wawa.
“Clearly the combined assets in the Mishi mining camps offer increased potential for both parties,” said Wesdome president Donovan Pollitt in a July 17 statement. “To date, we have mined over one million ounces from this camp and with the Mishi Mine's early success, we feel we are just scratching the surface.”
Windarra president John Pallot said proposal been under consideration for some time. “The combination of land with existing mining infrastructure, reserves and a mining team clearly makes a stronger regional asset base which we will all benefit from in the future.”
Wesdome has also announced the appointment of Philip Ng as chief operating officer. The company said Ng brings considerable experience in narrow-vein mining. Ng has worked for Queenston Mining, Claude Resources, Inco Sudbury and Hudson Bay Mining and Smelting.