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Northern Gold Mining Inc Acquires Mining Equipment


Friday, 16 Nov 2012 02:32pm EST 

Northern Gold Mining Inc announced that it has entered into a definitive agreement with Trelawney Mining and Exploration Inc. (Trelawney), an indirect wholly-owned subsidiary of IAMGOLD Corporation, pursuant to which the Company has agreed to purchase a considerable amount of equipment from Trelawney in exchange for an aggregate of 6,000,000 common shares of Northern Gold. The purchase consists of, but is not limited to, surface and underground electrical distribution systems, ventilation and mine air heat systems, compressors, generators, longhole drills, a Jumbo drill, water treatment equipment, various pieces of mobile equipment including scooptrams and excavators, a Gekko Mill and miscellaneous office equipment. 

Company Quote

0.03
-0.0050 -14.29%
11:46am EDT