Serving Gogebic, Iron and Ontonagon Counties
Serving Gogebic, Iron and Ontonagon Counties
LONGUEUIL, Quebec — Highland Copper Company announced April 4 it had reached an agreement extending the period in which it can acquire the White Pine mining project.
According to the company’s announcement, the deadline to acquire the project from the Copper Range Company has been moved from March 31 to May 6.
The closing on the acquisition is dependent to the release of the Copper Range Company from certain environmental obligations connected to the remediation and closure plan of the historic White Pine site, the announcement said.
Along with the extension of the acquisition period, Osisko Gold Royalties Ltd. also extended the maturity date on a $10 million Canadian loan made to Highland to May 6.
Both the acquisition deadline and loan have been extended before.
In a Jan. 6 announcement, the company announced the acquisition deadline was moved from Dec. 31, 2015 to March 31.
In the announcement, the loan maturity date was also moved to the end of January. A later announcement moved the date to Feb. 29 before being extended another time to the March 31 deadline.
— Richard Jenkins
