{"id":18303,"date":"2020-05-07T15:00:33","date_gmt":"2020-05-07T19:00:33","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/caisse-buying-return-royalty-on-gold-at-quebec-based-mine-145859"},"modified":"2020-05-07T15:00:33","modified_gmt":"2020-05-07T19:00:33","slug":"caisse-buying-return-royalty-on-gold-at-quebec-based-mine","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2020\/05\/07\/caisse-buying-return-royalty-on-gold-at-quebec-based-mine\/","title":{"rendered":"Caisse buying return royalty on gold at Quebec-based mine"},"content":{"rendered":"
\n
<\/div>\n<\/p><\/div>\n

Staff<\/span> | May 7, 2020 <\/p>\n

The Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec is purchasing a three per cent net smelter return royalty on gold production at Monarch Gold Corp.\u2019s Beaufor mine in Quebec for $5 million.<\/p>\n

The $5 million<\/span> will be payable to Monarch in two instalments \u2014 $3 million<\/span> upon closing of the transaction and an additional $2 million<\/span> once Monarch has completed a total of 15,000 metres of drilling on the Beaufor property or within 60 days of the Beaufor mine going into production.<\/p>\n

Read: Caisse providing $150M in financing to Quebec-based insurer<\/a><\/strong><\/p>\n

\u201cWith CDPQ\u2019s investment, Monarch can pursue its exploration plan, which could ultimately lead to the re-opening of the Beaufor mine in Abitibi-T\u00e9miscamingue,\u201d said Kim Thomassin<\/span>, executive vice-president and head of Quebec investments and stewardship investing at the Caisse, in a press release. \u201cThis transaction will pave the way for the company to integrate new artificial intelligence technology, which is in line with our desire to encourage more companies from so-called traditional sectors to take the digital turn to improve their performance.\u201d<\/p>\n

Jean-Marc Lacoste<\/span>, president and chief executive officer of Monarch, said the investment could eventually give the Beaufor mine a second life. \u201cThis investment is a turning point for the Beaufor mine, which still has considerable high-grade gold potential, as we demonstrated during our last drilling campaign, in 2018.\u201d<\/p>\n

Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Staff | May 7, 2020 The Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec is purchasing a three per cent net smelter return royalty on gold production at Monarch Gold Corp.\u2019s Beaufor mine in Quebec for $5 million....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/18303"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=18303"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/18303\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=18303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=18303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=18303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}