Employment opportunities in Newfoundland and Labrador
Read the story on the takeover of the Nugget Pond Processing Facility
"NUGGET POND PROCESSING FACILITY
Crew is pleased to announce that it has reached agreement with New Island Resources Inc (New Island-NIS:TSX-V) to acquire the Nugget Pond processing facility in Newfoundland, Canada. Crew intends to refurbish the facility and utilize it to process ore produced from its Nalunaq Gold Mine in Greenland. Under the terms of the purchase, which is subject to certain conditions, Crew will issue to New Island a total of three million shares. Additionally, the agreement also provides New Island with the opportunity to process ore mined on their Nugget Pond mineral leases at commercial rates. Crew expects to invest approximately $8 million to refurbish and modify the plant and build the required offloading and transportation facilities."
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