MINE News & Events

Mayfair Gold files C$250M mixed securities shelf

Mayfair Gold is pleased to announce the appointment of Kevin Annett as CFO of the company, effective April 7. He most recently served as CFO, North America at Barrick Mining Corporation, where he led financial strategy, planning, and governance for the company's largest region, with a strong focus on disciplined capital allocation and value creation.

Mayfair Gold has entered into a definitive agreement with Plato Gold to acquire Plato's interests in the Guibord, Marriott and Holloway properties for C$2.5M in cash. The properties are in close proximity to Mayfair's Fenn-Gib Gold project east of Timmins, Ontario. The transaction provides Mayfair with three exploration properties that overlay the regionally important Porcupine-Destor Fault Zone and provides land adjacent to the Project to the southwest to support potential onsite infrastructure. Mayfair has a path to permit and advance a new mine into production at Fenn-Gib. Mayfair also sees potential to enhance the project economics and production profile of Fenn-Gib through near site exploration. On closing, the cash consideration will be paid into escrow and held by an escrow agent. 50% of the funds will be released from escrow to Plato upon the transfer of the Marriott Property, 25% will be released from escrow on the transfer of the Holloway Property and the final 25% will be released from escrow on the transfer of the Guibord Property.