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El Coco Property (Cadillac (Rouyn-Noranda))

Canada / Quebec / Malartic / Cadillac (Rouyn-Noranda)
 mine, gold mine
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This is the El Coco property which is part of Agnico Eagle's Laronde Mine and is 100% owned. The El Coco property consists of 22 contiguous mining claims and one provincial mining lease and covers in total 356.7 hectares. The mining lease for El Coco expires in 2021 and is automatically renewable for three further ten-year terms upon payment of a small fee. The El Coco property is subject to a 50% net profits interest in favour of Barrick Gold Corporation ("Barrick") on future production from approximately 500 metres east of the LaRonde property boundary. The remaining 1,500 metres is subject to a 4% net smelter return royalty. This area of the property is now substantially mined out and the Company has not paid royalties since 2004 and does not expect to pay royalties in 2011.
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Coordinates:   48°15'4"N   78°24'16"W
This article was last modified 11 years ago