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New owner for Blackwater gold project

New Gold is to trim its asset base further to improve its balance sheet, entering into an agreement with Artemis Gold to divest its Blackwater project in British Columbia, Canada, for more than C$190 million.

Paul Harris
Blackwater in British Columbia, Canada

Blackwater in British Columbia, Canada

The company will receive $140 million in cash up front, $50 million payable a year after closing, $20 million in Artemis shares, and an 8% gold stream at a price equal to 35% of the gold spot price, reducing...

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