Gold Fields Latin America (BVI) Limited (Gold Fields), a wholly-owned subsidiary of Gold Fields Ltd of Johannesburg, has completed a CAN$860,000 (€530.400) private equity placement in ISEQ-listed MinMet's majority-owned subsidiary GoldQuest Mining Corp (GoldQuest).
In addition, Gold Fields has transferred its 50% participating interest in the Western Dominican Republic joint venture with GoldQuest into a fully-owned subsidiary of GoldQuest in exchange for equity in GoldQuest.
MinMet CEO Michael Nolan said: “It is great news that a major company such as Gold Fields is continuing its interest in our activities in the Dominican Republic.
“We have had a strategic association with them for some time and their participation reinforces the potential of our projects.
“GoldQuest has been listed on the TSX-V in Toronto as part of our 'stratlet' policy of spreading the risk of our exploration portfolio while at the same time promoting activity in our projects through new investment.”
MinMet began its day on the ISEQ at 5c per share.