Japanese firm to acquire mines
Apollo Gold Corp., the Denver-based company that owns the Florida Canyon and Standard mines about 45 miles southwest of Winnemucca, said last week it struck a deal to sell its Nevada operations to a Jipangu Inc.
Terms of the proposed transaction weren’t disclosed.Apollo didn’t say when the sale is expected to close after Jipangu completes its due-diligence studies.
Florida Canyon last year produced 73,000 ounces of gold at a cash cost of $362 an ounce.
The Standard Mine is beginning production this year.
also took a 9.5 percent equity stake in Apollo Gold, which has operations in Montana and Ontario in addition to its Nevada mines.
“The thing that I like most about entrepreneurship is I can work toward something that I’m passionate about and be at the forefront of the change that I want to see happen,” said Priyanka Senthil, a senior at Davidson Academy in Reno and co-founder of startup company AUesome.