Timmins-focused Melkior Resources on Wednesday unveiled an equity investment and potential joint-venture (JV) agreement with gold miner Kirkland Lake Gold, which the junior’s CEO sees as the “perfect fit”.
Melkior will raise C$1-million by way of a nonbrokered private placement to Kirkland of up to 1.25-million units at a price of C$0.80 each.
Each unit will be comprised of one common share of Melkior and one common share purchase warrant entitling Kirkland to acquire a Melkior share for C$1.20 a share for a period of two years from the closing of the financing.