Kintavar Exploration Inc. has entered into a share purchase agreement to acquire the Pourvoirie Fer a Cheval, one of the most developed hunting and fishing outfitters in the region that shares its exclusive hunting territories with Kintavar’s Mitchi property.
Fer a Cheval — opening the door to future development
The Acquisition is strategic for Kintavar as it addresses several key points:
Location — The Fer a Cheval is a large hunting and fishing outfitter with an exclusive territory of nearly 240 km2 that covers a large portion of the northern part of the Mitchi sedimentary basin. This transaction will guarantee that any future developments of the Mitchi project is done in full synergy to support and develop the Fer a Cheval existing business;
Key infrastructure — The Fer a Cheval owns key local assets such as the power line, private road access, fueling station and over 100 sleeping accommodations. The ownership of this infrastructure will have a major influence on any future capital costs of developing the Mitchi project.
Environmental and social acceptability — the Mont Laurier region residents have been very supportive of the Mitchi project since day one, even though the mining industry is new to the region. The acquisition of the Fer a Cheval allows Kintavar to continue developing the region, work more with the local communities and most importantly remain focused on the environmental and sustainable development aspects of the Mitchi project.
Growing cash flowing business — The Fer a Cheval has been in operation for over 10 years and has developed into a very active business for more than just hunting and fishing. The region has also been developed for snowmobiling and ATV riding and attracts many outdoor enthusiasts to the area. The Fer a Cheval has grown over the years and is a central location for lodging to major companies such as Hydro Quebec (15 km from the La Verendrye sub station), forestry companies and even forestry firefighting organizations. Kintavar intends to keep operating and optimizing the Fer a Cheval. It will be generating funds and as well have major synergies with its exploration activities, as such, management is confident shareholder value will be maximized.
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