Update: Atna Gives Back Early Advance in Heavy Trade, Wraps Deal for Nevada Mine
Atna Resources Ltd. (ATN.TO) is again flat at 79 cents a share, giving back an early advance to 81 cents in heavy trade after completing a deal for a 70 percent stake in Nevada's Pinson gold mine from a subsidiary of Barrick Gold Corp. (ABX-T)
Atna arranged a $20 million senior secured credit facility to pay the US$15.0 million cash portion of the deal and also issued 15 million shares of common stock to Barrick. According to the companies, the measured gold resource of the mine is 523,200 ounces with an inferred resource containing as much as 1,146,600 ounces of gold and Atna hopes to eventually produce between 50,000 to 100,000 ounces per year.
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