There’s good news for the gold mining industry on the Baie Verte Peninsula today where the mining industry has been struggling in recent months.

Maritime Resources has announced they have entered into purchase agreement to acquire the Point Rousse Project from Signal Gold. The mine was idled earlier this year. Today, CEO Garett MacDonald says acquiring the assets of the mine will be good for the region. But it will also put them one step closer to putting the Hammerdown Project back into production.

The transaction closes in July.