Chalice Gold Mines (TSX:CXN) said today that its plan of arrangement with Coventry Resources (ASX:CYY,TSXV:CYY) has been approved by shareholders. Under the plan, Chalice will acquire a 100 percent interest in the Cameron gold project in Ontario, Canada.
As quoted in the press release:
Commenting on the results of Coventry’s shareholder meeting, Chalice Managing Director, Bill Bent said “Chalice’s Board and Management are very pleased with Coventry shareholder’s support for this acquisition. We are confident that Chalice can unlock the excellent upside potential of the Cameron Project. The existing Preliminary Economic Assessment and previous study work focuses on the potential for a combined open pit and underground development running almost in parallel. We see potential to enhance the economics of the project by focusing on the open pit potential, with the underground as optional upside later in the mine life.”
Read the full press release by Chalice Gold Mines (TSX:CXN)