Local News

A Mining Project West of Flin Flon Has Received Major Funding.

Foran Mining has announced it has entered in a letter agreement pursuant to which Fairfax Holdings Limited will make a strategic 100 million dollar investment in Foran.  This is in exchange for the issuance by Foran of common shares, non-voting common shares and warrants.  The net proceeds of the financing will be used to rapidly advance the development of the McIlvenna Bay project and centralized mill for the Hanson Lake district 65 kilometers west of Flin Flon as well as further exploration in the Hanson Lake district, enable further investment in key technological and operational research and equipment and general corporate purposes.

             

Foran believes the investment by Fairfax represents a significant endorsement of their business model, the quality of the McIlvenna Bay deposit and its wider Hanson Lake District and its vision to build the world’s first carbon neutral mine.

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