Giustra jumps into Klondike gold rush play

The PDAC conference in Toronto was buzzing Monday with talk of Frank Giustra's participation in a Yukon gold play near the site of the Klondike gold rush. The latest deals involving the industry's best known promoters have always been a major talking point among attendees at the Prospectors and Developers Association of Canada convention in Toronto. So as the mining sector's biggest networking event got underway on Monday, it was no surprise to hear the discussion turn to Frank Giustra's Klondike gold exploration deal. The Vancouver-based financier has taken a stake, (believed to be just under 10%) in Klondike Gold Corp. (TSX: V.KG, Stock Forum), which is working to secure a large land position, about 15 kilometres south of Dawson City, Yukon, around the site of the original Klondike gold discoveries. With an eye to achieving that goal, Klondike Gold recently completed the acquisition of an 80% stake in Lonestar Gold Inc., a private B.C. company. It plans to get the other 20% via the acquisition of Klondike Star Mineral Corp.

Stock Forum), which is trading at 3 cents this week, and holds a 55% stake in the Lone Star property. Continue reading this article

.