S2 Resources divests Fosterville tenement to Agnico Eagle subsidiary

Australian miner S2 Resources has announced the divestment of the Fosterville tenement, transferring exploration licence EL007795 to a 100% owned subsidiary of Agnico Eagle Mines. S2 Resources received A$17m ($11.23m) from Agnico Eagle through its subsidiary Southern Star Exploration, as part of the deal. All conditions tied to the transaction have been met, the company said. Combined with its existing A$4.54m in cash, S2 Resources now holds total cash of more than A$21.5m. This improved cash position ...