MINING REFINING

Outback to acquire S2 Resources’ Finnish gold projects

Fri May 10 2024

Outback Goldfields, a Vancouver-based mining company, has signed a definitive share purchase deal with S2 Resources to acquire its Finnish subsidiary, Sakumpu Exploration. This move will result in the transfer of S2’s portfolio of gold projects in Finland to Outback Goldfields.

In March 2024, Outback Goldfields expressed its willingness to acquire these Finnish gold projects through a letter of intent (LOI). The due diligence investigation has been completed, and both parties are now set to proceed with the transaction, adhering to the terms outlined in the LOI.

The acquisition terms stipulate that Outback Goldfields will take over Sakumpu Exploration for a total consideration of C$7m.

Source: https://www.mining-technology.com/