GreenBank and Ubique Team Up for Gold Tailings Acquisition

GreenBank Capital (TSE:GBC) has released an update.

GreenBank Capital Inc. and Ubique Minerals Limited have teamed up to acquire MJR Mining and Exploration, which owns the Stanhove gold tailings dump in Johannesburg, in a deal totaling CAD $3,384,341 with additional future payments contingent on production. The transaction, split evenly between the two firms, is subject to regulatory and operational approvals, with Ubique handling mining operations and GreenBank managing the financials. The deal hinges on completing due diligence and obtaining necessary permits, with finalization expected shortly after these conditions are met.

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