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Former CEO looks set to control Golden Queen's mine

Golden Queen Mining (TSX: GQM) is aiming to sell its 50% stake in the Soledad Mountain gold-silver mine in California to a group led by its former CEO Thomas M Clay, to avoid insolvency proceedings.

Former CEO looks set to control Golden Queen's mine Former CEO looks set to control Golden Queen's mine Former CEO looks set to control Golden Queen's mine Former CEO looks set to control Golden Queen's mine Former CEO looks set to control Golden Queen's mine

Half of Soledad Mountain in California set to change hands

The company has been effectively bankrolled over the years by members of the Clay family and associated entities, with the Clay group owed about US$26.6 million as at February 7.