HALIFAX - A large, open-pit gold operation located in the historic Nova Scotia mining district of Moose River has been sold to an Australian firm. Shareholders are receiving $2.90 per share for a total equity value of $722 million under terms of the takeover. The company has been mining gold in open pit operations at the Touquoy mine and has mapped out four deposits in some of the province’s long-dormant underground gold districts. The modern mines differ vastly from the underground shafts which once honeycombed the area, and made Moose River the world-famous site of a 1936 cave-in and rescue. They are then melted into gold bars on the site.

Source: thestar May 17, 2019 15:22 UTC