San Gold and Kerr Mines have terminated an agreement that would merge the two mining companies. The two companies announced last summer they were working toward a merger.
Kerr Gold controls a 26-kilometre-long section of the Cadillac-Larder Lake Break that straddles the Ontario-Quebec border, including the McGarry and Cheminis gold mines in the Kirkland Lake area, and the Larder Lake gold project, located west of the McGarry Mine. It additionally owns the Copperstone gold mine in Arizona, which is fully permitted with significant mining and processing infrastructure in place.
San Gold operates the Rice Lake Mining Complex near Bissett, Manitoba.
At the time, San Gold said the acquisition would reflect a strategy of operating “multiple, efficient high-grade gold mines that are located in mining-friendly jurisdictions.”
