Make Kitco Your Homepage

Japan Gold jumps on alliance with Barrick Gold

Kitco News

Japan Gold (TSXV:JG) said Monday it has formed a country-wide alliance with Barrick Gold (TSX:ABX).

Japan Gold was up 18% to 38 cents a share today.

The alliance covers 28 out of 30 projects currently held by Japan Gold. Two projects are outside the alliance.

Per the agreement Barrick will fund expenditures for projects. Barrick can earn a 51% interest by sole funding and completing a prefeasibility study for the project.

Japan Gold is a mineral exploration company focusing on Japan.

"We are pleased to partner with Japan Gold, who have assembled an impressive portfolio of exploration tenements within the renowned epithermal gold provinces of Japan. We look forward to advancing our partnership by combining Barrick's technical and financial resources with Japan Gold's first mover advantage, to deliver new world class gold discoveries," said Barrick's CEO, Mark Bristow.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News