Matachewan Announces Sale of Mineral Royalties to Alamos Gold
Deal News | May 22, 2025 | Globenewswire
Matachewan Consolidated Mines, Limited has finalized a purchase and sale agreement with Alamos Gold Inc., selling its mineral royalties on the Young-Davidson Mine for C$2.7 million. The deal closed on May 21, 2025, providing Matachewan with a significant injection of cash to explore other investment opportunities. Richard McCloskey, President and CEO of Matachewan, highlighted the strategic benefits of this sale for future endeavors. The transaction involves the transfer of all present and future royalty rights from 24 mining claims in Matachewan, Ontario, to Alamos Gold, the current owner and operator of the Young-Davidson Mine.
Sectors
- Mining
- Natural Resources
Geography
- Canada – The companies involved in the transaction, Matachewan Consolidated Mines and Alamos Gold, are based in Canada, and the Young-Davidson Mine is located in Matachewan, Ontario.
Industry
- Mining – The article involves the sale of mineral royalties, specifically those related to a mining operation at the Young-Davidson Mine.
- Natural Resources – The transaction pertains to the rights and interests in natural resource extraction, focusing on mineral royalties.
Financials
- C$2,700,000 – The total consideration for the sale of mineral royalties by Matachewan to Alamos Gold.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Matachewan Consolidated Mines, Limited | Vendor | Company | Matachewan entered into an agreement to sell its mineral royalties on the Young-Davidson Mine. |
| Alamos Gold Inc. | Purchaser | Company | Alamos Gold, the owner and operator of the Young-Davidson Mine, purchased the mineral royalties from Matachewan. |
| Richard McCloskey | President and CEO | Person | President and CEO of Matachewan Consolidated Mines, providing statements about the transaction. |