M&A / Property

Fokus closes property buy from Visible for $3-million

By The Northwire Desk — AI Analysis Sep 04, 2025 · 19:34 VGD · 0.105 Visible Gold Mines Inc.

VGD · Price

Fokus Mining completed the acquisition of six 100% owned gold properties and a 40% stake in a seventh property from Visible Gold Mines for approximately $3.0 million (cash and share consideration).
The transaction triples Fokus’s land position to 9,559 ha along the Cadillac‑Larder Lake fault, adding drill‑ready targets adjacent to its flagship Galloway project and major neighboring mines.
A royalty holder exercised an option to increase a net smelter return (NSR) on the Galloway project from 0.5% to 1%, providing $750 k cash to Fokus; the related NSR purchase is being finalized.

Total consideration: ~US$3.0 million
US$750,000 cash paid at closing
Issuance of 10 million Fokus common shares (valued at US$1.5 million)
Additional US$750,000 cash payable no later than Dec 3 2025
Acquired assets:
100% interests in six properties – Cadillac Break, Lucky Break, Silidor, Stadacona‑East, Wasa Creek, Wasa East (total 6,473 ha, 215 exclusive exploration rights)
40% interest in Capricorn project
Land package impact:
Increases total holdings from 3,086 ha to 9,559 ha along the Cadillac‑Larder Lake fault
Provides immediate expansion potential around Galloway (NI 43‑101 inferred resource of 1.42 Moz Au at $1,750/oz)
Strategic proximity:
Adjacent to Agnico Eagle’s Wasamac project (1.38 Moz Au reserve) and other regional explorers (Gold Candle, Falco Resources) within a 25‑km radius
Royalty transaction:
Existing 0.5% NSR royalty holders elected to increase the NSR to 1% for an additional US$750,000 consideration
Proceeds from the original NSR were used by Fokus to exercise its right of first refusal on a separate 0.5% NSR offered by Vanstar Mining Resources (Iamgold subsidiary) – that royalty has now been repurchased and cancelled
Closing timeline:
Final cash payment of US$750,000 due by Dec 3 2025
Additional NSR increase expected to close within a few days of the announcement
Qualified person: Gilles Laverdière, PGeo (OGQ 00161), reviewed and approved all technical information under NI 43‑101.

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