Alexandria Minerals Corporation is a Canadian junior gold mining company focused on exploration and development of prospective gold properties. The Company’s flagship project is its 35 kilometer-long Cadillac Break Property Group, located in the famed Val d’Or Gold Camp. While many junior mining companies have had difficulty advancing their operations in the difficult economic climate of the past few years, AZX has persevered in exploring Cadillac Break and expanding on its resource base.
Recently, the Company was pleased to announce a new joint venture with Probe Metals Inc. Under the terms of the JV, Probe has the opportunity to earn up to a 70% interest on the eastern 1/3 portion of the Cadillac Break package. To earn that full interest, Probe must expend up to $7.0 million on exploration and complete a pre-feasibility study, within the six-year term of the deal. The agreement provided Alexandria with a risk-free means of unlocking shareholder value in this portion of the Company’s Cadillac Break holdings, as the eastern portion of the land package had previously been undeveloped.
Alexandria’s operations are bolstered by the strong partnerships it has forged with institutional investors, as well as the strategic investment by Agnico-Eagle, which currently holds just under 10% of the Company’s outstanding shares. Further information can be found here.