{"id":1123260,"date":"2019-06-26T10:55:38","date_gmt":"2019-06-26T10:55:38","guid":{"rendered":"https:\/\/www.mining.com\/?p=994967"},"modified":"2019-06-26T10:55:38","modified_gmt":"2019-06-26T10:55:38","slug":"sibanye-stillwater-to-sell-majority-stake-in-canadian-pgm-copper-project","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1123260","title":{"rendered":"Sibanye-Stillwater to sell majority stake in Canadian PGM-copper project"},"content":{"rendered":"

South Africa\u2019s Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) has decided to sell its majority stake in a platinum group metals-copper project<\/a> in Canada to mineral exploration and development company Generation Mining.<\/p>\n

Under the terms of the agreement, the local junior will earn a 51% in the Marathon project, in northern Ontario, by advancing the development of the asset through further economic studies.<\/p>\n

\n
\n

Gen Mining can\u00a0earn an additional 29% interest within four years by investing at least C$10m and delivering a PEA.<\/p>\n<\/blockquote>\n<\/figure>\n

Sibanye-Stillwater will receive C$3
\nmillion (about $2.3m) in upfront proceeds and 11 million shares at 0.2714
\nCanadian dollars per share in Gen Mining, equivalent to a 12.9% equity stake. <\/p>\n

In exchange, Gen will not only
\nsecure a majority stake in the Marathon, but also form a joint venture with
\nSibanye-Stillwater Canada and be the operator of it.<\/p>\n

Additionally, the Canadian junior will
\nhave the right to earn an additional 29% interest within four years by investing
\nat least C$10 million and delivering a preliminary economic assessment.<\/p>\n

The companies first announced a
\npotential transaction in April, when Gen Mining signed a letter to earn into
\nthe property, adjacent to Lake Superior, and which comprises 44 mining
\nleases and 82 contiguous claims.<\/p>\n

The deal is expected to be
\ncompleted by mid-July.<\/p>\n","protected":false},"excerpt":{"rendered":"

local exploration and development junior, Generation Mining, will earn a 51% in the Marathon project, in northern Ontario.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1123260"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1123260"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1123260\/revisions"}],"predecessor-version":[{"id":1123341,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1123260\/revisions\/1123341"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1123260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1123260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1123260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}