North American Palladium to Acquire Vezza Gold Project

Apr 21, 2010–North American Palladium, Ltd. (AMEX: PAL), a precious metals mining company, has entered into a letter of intent to acquire the Vezza gold project in Quebec, Canada from Agnico-Eagle Mines Limited for CAD10 million ($9.83million).

Agnico-Eagle Mines is a gold mining company. Both the companies are based in Canada. The Vezza gold property has 288,000 contained ounces of gold.

The purchase consideration comprises a cash component of CAD3.5 million ($3.44 million) and CAD6.5 million ($6.39 million) in shares of Palladium.

The transaction is expected to close by May 20, 2010.

Did you enjoy this article? Join our FREE Newsletter!
I agree to have my personal information transfered to MailChimp ( more information )
Join over 100,000 investors and business leaders worldwide. Get the latest actionable business and investing intelligence before the rest of the crowd.
We hate spam. Your email address will not be sold or shared with anyone else.