Nubian Updates Stake in Athena Gold's Strategic Acquisition
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Nubian's Investment in Athena Gold Corporation
Nubian Resources Ltd. (TSX-V: NBR) has exciting developments regarding its significant investment in Athena Gold Corporation. The company holds approximately 31% of Athena, having acquired 55 million shares, alongside a valuable 1% Net Smelter Return Royalty on Excelsior Springs. This strategic stake signifies Nubian's confidence in Athena's growth potential and overall market presence.
Athena's Recent Acquisition Plans
Non-Binding Agreement with Libra Lithium Corp.
On September 11, 2024, Athena Gold announced its intention to acquire up to a 100% interest in the Laird Lake and Oneman Lake gold projects through a non-binding letter of intent with Libra Lithium Corp. This acquisition, which includes assets located in the Red Lake Gold Camp, is a robust opportunity for both companies. Laird Lake is particularly notable for its similar geological features to the well-known Kinross Gold’s Great Bear project.
Management Changes and Board Structure
With the impending acquisition, significant changes will be made to Athena's management team. David Goodman, a seasoned professional in the sector, will assume the role of Chairman of the Board, while Koby Kushner will take charge as President and CEO. Current President John Power is expected to continue as Secretary and Director, ensuring a smooth transition and continuity in leadership.
Redomiciliation to Canada
Athena has exciting plans to redomicile to Canada, which is anticipated to strengthen its operational capabilities and align with more favorable market conditions. The completion of the acquisition is expected by October 10, 2024, paving the way for Athena to harness new opportunities in the gold mining sector.
Nubian Resources: A Closer Look
Company Overview
Nubian Resources Ltd. is publicly traded on the TSX Venture Exchange, focusing on the exploration of precious and base metals. With a dedicated team of experienced professionals in mining and geology, Nubian's projects are primarily positioned in renowned mining jurisdictions in Peru and Australia, particularly in central Victoria and Tasmania. This strategic positioning allows Nubian to maintain a competitive edge in mineral exploration and development.
Contact Information
For additional details regarding Nubian's operations or inquiries about their investment strategies, you can reach out to Martin Walter, CEO of Nubian Resources Ltd., at +1-416-389-5692 or via email at martin@nubianr.com.
Frequently Asked Questions
What percentage of Athena does Nubian own?
Nubian owns approximately 31% of Athena Gold Corporation, holding 55 million shares.
What is the recent acquisition Athena is pursuing?
Athena is looking to acquire up to a 100% interest in the Laird Lake and Oneman Lake gold projects from Libra Lithium Corp.
When is the expected closing date for the Athena acquisition?
The acquisition is anticipated to close on or before October 10, 2024.
Who is joining Athena's board as part of the management changes?
David Goodman and Koby Kushner will be joining Athena's Board of Directors, with Goodman taking on the Chair position.
Where is Nubian Resources focusing its projects?
Nubian's exploration projects are mainly located in Peru and Australia, covering key mining jurisdictions.
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