TomaGold Corporation to Hold 85% Interest in Monster Lake Property

 TomaGold Corporation (TSXV:LOT) announced the amendment of its agreement with Quinto Real Capital Corporation (TSXV:QIT), dated November 26, 2012, for the Monster Lake property in Quebec. The agreement dated November 26, 2012 will be cancelled, giving TomaGold an 85% interest in Monster Lake and makes the Company the sole project operator.

As quoted in the press release:

To be finalized in the coming weeks, the new agreement essentially provides for:

  • The agreement dated November 26, 2012, to be cancelled;
  • TomaGold to henceforth hold an 85% interest in Monster Lake and be the sole project operator; and
  • Quinto to own a 15% interest in Monster Lake.

TomaGold President and CEO David Grondin said:

This new agreement is very positive for both parties because it optimizes the development of the Monster Lake project. TomaGold becomes the sole operator of the project and continues to consolidate its dominant position around Monster Lake, and Quinto retains a 15% interest in a high-value project with growing potential. In the coming weeks, we will devote our efforts to the launch of our next drilling program at Monster Lake.

Click here to read the TomaGold Corporation (TSXV:LOT) press release

See this press release on Marketwire
Click here to see the TomaGold Corporation (TSXV:LOT) profile.

Get the Latest Gold Investing Stock Information

Get the latest information about companies associated with Gold Investing delivered directly to your inbox.

Gold Mine Development
Gold Production/Mining
Gold Project Generators
Gold Prospecting and Exploration
Gold Resource Definition/Pre Feasibility
Gold Resource Expansion/Feasibility Study/PEA
Other Companies

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.


Leave a Reply