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Evolution makes Canada move

Leading Australian mid-tier gold miner Evolution Mining has agreed to buy Newmont Goldcorp’s Red Lake gold complex in Ontario for US$375 million in cash.

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Red Lake, Ontario

An additional $100 million will be payable on the discovery of further resources.

The deal will be funded via a new five-year A$600 million senior unsecured term loan from a syndicate of banks.

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