Published on April 5, 2016
Midas Gold has a new investor. This news brings us one step closer to restoring the Stibnite Gold Project site through modern mining practices.
Paulson & Co. was the major investor in a recently completed $40 million transaction. This money will give a tremendous boost to our company and the work we are doing in Idaho. Our relationship with Paulson & Co., an investment management firm, will allow us to finish our environmental assessment, feasibility study and undertake the permitting process for redevelopment of the site.
“We are thrilled that Paulson & Co. is supporting our vision for the Stibnite Gold Project site,” said Stephen Quin, Midas Gold Corp. President. “The area was abandoned after a century of mining and never received the reclamation work it needed. With advances in modern mining methods, we have the ability to redevelop the site, reclaiming the historic disturbance, re-mine the area for gold and antimony and leave it in better condition than it is today. The investment from Paulson & Co. gives us the funding we need to sustain our operations through the permitting process so that we can one day see the site redeveloped and restored.”
Idaho is our home and we are excited about what this investment means for us as a company but more importantly what it will allow us to continue to do here as we move forward. You can see the full announcement here, Midas Gold to enter into Strategic Relationship with Paulson & Co.
