TMAC Resources shares fall after Ottawa rejects sale to Chinese company Shandong Gold

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TMAC Resources shares fall after Ottawa rejects sale to Chinese company Shandong Gold cdnpoli

Ottawa made the decision following a review under the Investment Canada Act, the Canadian miner said in a news release, adding it is now in talks with Shandong regarding termination of the transaction.

"We will continue to build on these improvements while considering options to manage our balance sheet. We continue to believe that the Hope Bay gold belt holds substantial value with long life production potential that presents a significant development opportunity."

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