Alamos Gold (AGI) said late Thursday it will sell its Quartz Mountain Gold Project in Oregon to Q-Gold Resources for up to $21 million and a 9.9% equity stake in the company.
The transaction will happen in tranches where Alamos Gold will transfer $2.9 million in cash in exchange for a 9.9% equity share in Q-Gold Resource upon close.
The next $8.2 million is payable in cash or common shares over the three years after the deal is completed.
The remainder will depend on the completion of a feasibility study or a construction decision at the site and upon receiving key construction and operational permits.
The transaction is expected to be completed in Q2, subject to closing conditions.
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