MTLCF - Barrick Gold issues force majeure on Ontario project MetalCorp says

Barrick Gold (GOLD +0.3%) has provided notice of force majeure (OTC:MTLCF) related to the fulfillment of its obligations toward the earn-in agreement on the Hemlo East property in Ontario, according to potential partner MetalCorp (OTC:MTLCF). MetalCorp says Barrick has engaged in talks with local First Nations who have advised on claims which they have in the Hemlo East area, which has caused Barrick to give notice of force majeure because it would delay fulfilling obligations and extend the time needed to undertake mining operations and fund expenditures, which were part of the earn-in agreement. Under the deal terms, Barrick could earn an 80% stake in Helmo East by producing a technical report and funding up to C$700K in expenditures on the property. Gold producers trade mostly higher today, following a rise in gold prices on the discovery of a new coronavirus variant from South Africa.

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Barrick Gold issues force majeure on Ontario project, MetalCorp says