I note that a Chinese organisation has made an iinvestment in a Canadian company Acadian Gold.
News release states:
Acadian Mining Corporation ("Corporation" or "Acadian") (TSX: ADA) is pleased to announce that it has signed a Letter of Intent with respect to a proposed investment in Acadian by China Metallurgical Exploration Corp. ("CME") which will raise an initial $8.1 million with the potential to raise a further $5.4 million if warrants are exercised.
Acadian also has an investment a while back from Joseph Gutnick.
However the salient point appears to be the ever expanding reach of Chinese interests out in to the gold world.
Nova Scotia is an underdeveloped and underexplored region for gold particularly of the type that may be able to be mined open pit.
Leading the way over there is ASX listed Atlantic Gold (ATV on ASX) with a well developed project at Touquoy (awaiting financing for mining) as well as potential mining at Cochrane Hill-combined Touquoy/Cochrane Hill 1.2 million ounces, plus large land holdings in the area which have never before been systematically explored for open pit resources.
With it's low sovereign risk, and other favourable characteristics, this could be deemed yet another move of smart money in to Canada at ground floor level for this region.
