UPDATE: Marathon Gold Trims Earlier Gains After Announcing Strategic Acquisition of Bonanza Mine
Marathon Gold Corporation (MOZ.TO), which was sharply higher at the open, trimmed earlier gains and are now trading at $1.20, about 4% above yesterday's $1.15 close, after its announcement that it has purchased the Bonanza Mine, located in north eastern Oregon, USA. The Bonanza Mine is a historic high-grade producer and Marathon owns 100% of the property.
Phillip Walford, President and CEO, said: "...this property exhibited real merit and promise and was a natural fit for the Company...We believe this property has excellent upside exploration potential and as we own 100% of the asset, we anticipate it generating value for the Company."
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