Experience

CDPQ invests C$5 million in Monarch Gold to support the potential re-opening of the Beaufor Mine

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Overview

Client

Caisse de dépôt et placement du Québec

On May 7, 2020, Monarch Gold Corporation announced that it has signed an agreement with the Caisse de dépôt et placement du Québec (CDPQ) to sell a 3% net smelter return royalty on gold production at the Beaufor mine for $5 million. The $5 million will be payable to Monarch in two installments: $3 million upon closing of the transaction and an additional $2 million once the Corporation has completed a total of 15,000 metres of drilling on the Beaufor property or within 60 days of the Beaufor mine going into production.

This investment will support the potential re-opening of the Beaufor Mine with the goal to restart gold production within 12 to 18 months to take advantage of the bullish gold market. Monarch Gold and CDPQ also retained the services of a company using artificial intelligence algorithms to increase the efficiency and success rate of mineral exploration at the re-opening. CDPQ’s strategic investment has the ability to give a second life to the Beaufor mine, which still has considerable high-grade gold potential.

A Fasken team composed of Frank Mariage, Jean-Philippe Côté, Carole Gélinas, Nicolas Leblanc, Paul Cabana, Nathalie Lauzier and Gina Batrouni advised the Caisse de dépôt et placement in connection with this investment.

Jurisdiction

  • Québec

Team

  • Frank Mariage, Partner | Corporate/Commercial, Montréal, QC, +1 514 397 7540, fmariage@fasken.com
  • Jean-Philippe Côté, Partner | Corporate/Commercial, Montréal, QC, +1 514 397 5178, jpcote@fasken.com
  • Nicolas Leblanc, Partner | Real Estate, Montréal, QC, +1 514 397 5262, nleblanc@fasken.com
  • Paul Cabana, Partner | Tax Law, Montréal, QC, +1 514 397 5213, pcabana@fasken.com
  • Nathalie Lauzier, Paralegal/Law Clerk | Real Estate Law, Montréal, QC, +1 514 397 7589, nlauzier@fasken.com
  • Gina Batrouni, Paralegal/Law Clerk | Corporate/Commercial, Montréal, QC, +1 514 397 7585, gbatrouni@fasken.com
Frank Mariage Associé/Partner Montréal Frank Mariage Partner | Corporate/Commercial Montréal, QC +1 514 397 7540
Jean-Philippe Côté | Corporate/Commercial lawyer in Montréal Jean-Philippe Côté Partner | Corporate/Commercial Montréal, QC +1 514 397 5178
Nicolas Leblanc, Partner | Real Estate Nicolas Leblanc Partner | Real Estate Montréal, QC +1 514 397 5262
Paul Cabana Associé/Partner Montréal Paul Cabana Partner | Tax Law Montréal, QC +1 514 397 5213
Nathalie Lauzier Paralegal in Montréal Nathalie Lauzier Paralegal/Law Clerk | Real Estate Law Montréal, QC +1 514 397 7589
Gina Batrouni Parajuriste/Paralegal Montréal Gina Batrouni Paralegal/Law Clerk | Corporate/Commercial Montréal, QC +1 514 397 7585

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