Dowa sale of interest in Palmer VMS Project
Torys acted as counsel to Dowa Metals & Mining Alaska in the sale of its interest in Constantine Mining LLC, holder of the Palmer VMS Project in southeast Alaska, to Constantine North Inc., a wholly-owned subsidiary of American Pacific Mining Corp.
On December 2, 2024, American Pacific Mining Corp. ("American Pacific") announced that it closed its previously announced transaction with Dowa Metals & Mining Alaska Ltd. ("Dowa") to acquire Dowa's 70.80% interest in Constantine Mining LLC, the holder of the Palmer VMS Project.
The Palmer VMS Project is an advanced stage Cu-Zn-Au-Ag exploration project in southeast Alaska, located 60 km (37 miles) from the deep sea port at Haines, Alaska. The property area totals 62,590 acres (97.8 square miles) consisting of mineral leases with Alaska Mental Health Trust Authority, Federal mining claims, and State mining claims.
Following closing, American Pacific holds a consolidated 100% interest in the Palmer VMS Project.
Further information can be found on Newsfile’s website.
Torys also acted on the following in connection with this project:
| Jurisdiction | Haines Borough |
| Province/State | Alaska |
| Country | United States |
| Nature of Engagement | M&A |
| Client | Dowa Metals & Mining Alaska |
| Client Role | Seller |