Capstone Mining to acquire a 30% stake in Santo Domingo project from Korea Resources for $120m.

Capstone Mining, a Canadian base metals mining company, agreed to acquire a 30% stake in Santo Domingo project from Korea Resources, mineral resources development, mineral information service and mineral research corporation, for $120m in three cash payments over the next four years including an initial payment of $30m. “The gold stream and port agreements are key steps in our reduced capital strategy which aims to decrease the capital required by a target of $700m. The consolidation of 100% ownership of the project allows Capstone to efficiently engage in discussions with potential strategic partners. KORES is a large shareholder and they believe the company is at the forefront of significant copper growth,” Darren Pylot, Capstone President and CEO.