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Managem enters into a joint venture agreement with Avocet Mining PLC regarding development of the Tri-K Gold mine in Guinea

Date Closed

October 7, 2016

Lead Office

Québec City

On October 7, 2016, Managem entered into a Joint Venture agreement with Avocet Mining PLC to acquire an interest in Tri-K gold project in Guinea.  Avocet Mining PLC (“Avocet”) is a company listed on the London Stock Exchange and the Oslo Børs. Its main activities consist on gold mining and exploration in West Africa, including Tri-K project in Guinea.

Tri-K is a gold project located 90 km northeast of Kankan (the second largest city in Guinea) within an exploration area of 490km². The feasibility study completed in 2013, on the basis of a total mineral resource of 3 million ounces and a heap leach operation, demonstrates an existing reserve of 480 000 ounces of gold. This partnership aims to create a joint venture company to develop, build and operate the Tri-K gold project.

Managem is an industrial mining group with over 86 years of history, operating a long-lived and balanced portfolio of precious and base metal assets as well as Cobalt and Fluorspar.

McCarthy Tétrault LLP advised Managem with a team led by Pierre Boivin (Mining and M&A).