MDF Global MDF Global
Apple’s iPhone boom highlights critical minerals powering smartphones•Presenting a united front for Queensland’s copper sector•Thailand seeks Myanmar mine access amid arsenic pollution•Egypt to set up state-backed company to license artisanal gold miners, free detainees•Brixton closes $7.4 million raise for Thorn, Langis projects•Heliostar banks record $78.7 million for Ana Paula push•Mining giants bet billions on 2030 supply crunch•Gunnison Copper reports Q3 output, revenue surge•Triumph Gold targets $15.46 million for Yukon push•African Rainbow Minerals faces a jobs dispute at Nkomati mine•Angola seeks 10% stake in De Beers under Anglo’s proposed exit•Gold price rebounds but heads for biggest weekly loss since June•Teck copper strike reaches BC port as operator sues union•Copper benchmark rocked by miner-smelter tug-of-war•Zimbabwe mining bill targets community, environmental safeguards•Mount Isa critical minerals hub secures Feasibility Study funding•Eramet initiates $814.5 million capital raise to reduce debt•Richemont backs natural gemstones, declines De Beers comment•‘Tis the season for administration as Comlek falls a second time•OceanaGold Philippines trials wireless blasting at Didipio mine Apple’s iPhone boom highlights critical minerals powering smartphones•Presenting a united front for Queensland’s copper sector•Thailand seeks Myanmar mine access amid arsenic pollution•Egypt to set up state-backed company to license artisanal gold miners, free detainees•Brixton closes $7.4 million raise for Thorn, Langis projects•Heliostar banks record $78.7 million for Ana Paula push•Mining giants bet billions on 2030 supply crunch•Gunnison Copper reports Q3 output, revenue surge•Triumph Gold targets $15.46 million for Yukon push•African Rainbow Minerals faces a jobs dispute at Nkomati mine•Angola seeks 10% stake in De Beers under Anglo’s proposed exit•Gold price rebounds but heads for biggest weekly loss since June•Teck copper strike reaches BC port as operator sues union•Copper benchmark rocked by miner-smelter tug-of-war•Zimbabwe mining bill targets community, environmental safeguards•Mount Isa critical minerals hub secures Feasibility Study funding•Eramet initiates $814.5 million capital raise to reduce debt•Richemont backs natural gemstones, declines De Beers comment•‘Tis the season for administration as Comlek falls a second time•OceanaGold Philippines trials wireless blasting at Didipio mine
WRITTEN BY Aaliyah Rogan

Labyrinth terminates sale of Québec gold project

Labyrinth Resources (ASX:LRL) has terminated the sale and purchase agreement for its namesake gold project in Canada, on the basis that privately held Gold Projects WA has allegedly failed to comply with obligations. 

The notice of termination has been provided to the company and International Precious Metals Refiners, which will take effect on 17 May 2024. 

Labyrinth will retain the non-refundable $225,000 deposit. 

The Labyrinth Gold Project lies in Québec, Canada and has a mineral resource of 500,000 ounces of gold at 5 grams per tonne.

Considering the termination of the agreement, Labyrinth plans to update the market with its strategic plan in due course. 

Write to Aaliyah Rogan at Mining.com.au   

Images: Stock
Add to Watch List:
Author Image
Written By Aaliyah Rogan
Originally from New Zealand, Aaliyah brings several years of experience covering the resources sector, with a focus on companies, commodities and global mining markets. Her reporting has spanned European markets and the evolving global mining landscape, with a focus on the stories and market forces driving change across the sector.

Related Articles

Comet Vale

Labyrinth equity raise to accelerate Comet Vale drilling

Labyrinth Resources (ASX:LRL) has received firm commitments from existing shareholders, directors, and new strategic, institutional, and sophisticated investors to raise...
21 November 2024
Goldfields Labyrinth

Olympio offloads WA gold projects to Labyrinth

Labyrinth Resources (ASX:LRL) has entered into an option agreement with Olympio Metals (ASX:OLY) to buy the Mulwarrie and Mulline gold...
05 November 2024

Plenty to Cheer about as Labyrinth awaits assays

Labyrinth Resources (ASX:LRL) is encouraged by the progress to date at the Cheer prospect with initial assay results expected within...
24 October 2024

Labyrinth pockets $470,000 tax credit

Labyrinth Resources (ASX:LRL) has received a $470,000 tax credit from the Revenu Quebec in Canada.  The $7.12 million market capitalisation...
22 January 2024