FNX-panding in Sudbury.One of Northern Ontario's largest junior explorers, FNX Mining FNX Mining Company Inc. TSX: FNX is a Toronto, Ontario based company that produces and explores for nickel, copper, platinum, palladium, gold and cobalt in the Sudbury Basin, Ontario, Canada. , is acquiring Aurora Aurora, cities, United States Aurora (ərôr`ə, ô–). 1 City (1990 pop. 222,103), Adams and Arapahoe counties, N central Colo., a growing suburb on the east side of Denver; inc. 1903. Platinum. FNX announced May 4 it has entered into an arrangement agreement to acquire all of Aurora's outstanding shares in exchange for common shares of FNX. Aurora is a junior exploration company searching for nickel-copper-PGM-gold deposits in Ontario and Quebec. They also hold an extensive land position in the Sudbury Basin The Sudbury Basin, also known as Sudbury Structure, is the second largest known impact crater or astrobleme on Earth, and a major geologic structure in Ontario, Canada. The basin is located on the Canadian Shield in the city of Greater Sudbury, Ontario. mining camp including a 60 per cent interest in the historic Falconbridge and Falconbridge East mines. In a statement, FNX president Terry MacGibbon says the transaction will increase his company's Sudbury land holdings "eight-fold" but also provide them with eight kilometres of very prospective and under-explored footwall foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. property in the Sudbury mining camp. |
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