Gold Fields Ltd. increased its strategic stake in Founders Metals Inc. to 19.9%. The transaction involved a C$76.96 million investment. This move establishes Gold Fields as a primary strategic investor in the junior exploration company.
Founders Metals used the capital to acquire the remaining 30% of Lawa Gold. This transaction gives the company 100% ownership of the Antino Gold Project in Suriname.
Founders Metals will use the funds to advance exploration and development activities at the site. The move provides Gold Fields with exposure to a district-scale gold camp to fuel future growth.