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Russian gold miner Nord Gold acquires 22,3% Canadian Northquest

Gold mining company Nord Gold, owned by Alexei Mordashov, announced the acquisition of 22,3% in the Canadian Northquest for 2,3 million dollars. According to Reuters Nord Gold will redeem over the 12,7 million shares of the Northquest private placement and will receive warrants for another 6,38 million new shares.

Northquest owns the Pistol Bay project, a gold mine on the west coast of Hudson Bay.

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