Ann: Acquisition of Green Bay Copper-Gold Project, page-57

Article from local Canadian newspaper.

New Operator Found for Former Rambler Mines Operation


ByBarret Loux

SEPTEMBER 7, 2023

The sale is still pending the approval of the Supreme Court, which is expected to happen next week. This development follows a similar trend seen with the revival of the fluorspar mine in St. Lawrence, where renewed interest and financing were obtained after the pandemic caused significant setbacks.

The news of AuTECO Minerals Limited taking over the Rambler Mines operation is undoubtedly a welcome relief for the entire Baie Verte area. This operation serves as the largest private employer in the region, directly and indirectly benefiting hundreds of individuals.

Steve Parsons, the managing director of AuTECO Minerals Limited, highlighted the exceptional nature of this acquisition. He stated that it is incredibly rare for a copper asset of this size, quality, and potential to become available anywhere in the world. Furthermore, he emphasized that the location of the operation in Newfoundland and Labrador is considered a “tier-one location.”
Overall, the agreement between AuTECO Minerals Limited and Rambler Mines promises a new chapter for the business and the local community. With the potential for continued growth and success, this opportunity brings hope and positive prospects for the Baie Verte Peninsula.