UPDATE: Lake Shore Gold Slightly Up, Well Off Day Highs; Last Week Inked Pact for Option on Mexican Exploration Properties
Lake Shore Gold Inc (LSG.TO) is up 2 cents at $1.17 but is off a day high $1.25 with 14 million shares traded, making it the most active on the TSX.
December 14, Lake Shore Gold said it signed a formal option agreement with Revolution Resources Corp. through which Revolution may acquire up to 100% of the Company's four Mexican property positions, including the Universo, Montana de Oro, Lluvia de Oro and La Bufa properties.
As a result of signing the formal agreement, Revolution will issue to LSG common shares representing a 9.9% equity interest in Revolution. Included in the terms of the agreement are requirements that will allow Revolution to acquire a 60% interest in the Company's Mexican properties as well as additional requirements through which Revolution can acquire a 100% interest in some or all of the properties.
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