Premier Gold claims a stake of Nevada project.

• Position: Brief article

Goldcorp announced April 6 that it has signed a binding letter of intent to sell 40 per cent of its interest in the South Arturo Mine Project in Nevada to Premier Gold Mines of Thunder Bay.

South Arturo is a joint venture between Goldcorp and Barrick, which holds a 60 per cent stake and operates the project, located just northwest of Barrick's Goldstrike operations.

Under the agreement, Goldcorp will receive consideration of $20 million in cash at closing and a further 5 per cent interest in Premier's Rahill-Bonanza Joint Venture in Red Lake.

Goldcorp has...