Precious Metals

Jean-François Ferland - 20/02/2013

The identity of the anonymous partner for whom Diagnos purchased mining claims in Northern Quebec has been revealed by a Montreal newspaper.

Diagnosis,a company that specializes in Brossard data mining and business intelligence solutions,has acquired thousands of concessions in Northern Quebec over the last month on behalf of a Ontario mining trading partner whose identity was not revealed.However,in an article by a journalist specializing in the mineral resource sector,it indicates that it is of Dundee Corporation,a private asset management company headquartered in Toronto,Ontario.

Dundee Corporation operates subsidiary Dundee Resources,which oversees Dundee Precious Metals,a company that conducts exploration and mining.For now,the company operates mines in Armenia and Bulgaria.Also,Dundee Precious Metals has interests in other mining companies.

The link between Dundee Corporation and Diagnos was unveiled in an article published in a Montreal newspaper a few days ago.On the other hand,on February 8,Diagnos announced the completion of a private placement involving members of his leadership,a private investor and the company Dundee Corporation.

In a press release,Diagnos said Dundee Corporation bought six million shares and now controlled 14.98% of the Quebec company.However,Dundee Corporation are not identified by Diagnos as the partner for which licenses were purchased in Northern Quebec over the last few months.

In an email,Michel Fontaine,Vice-President of Business Development at Diagnos says that the client company does not want to be identified publicly.It states that it is a journalist specializing in the field of natural resources has made the link between Dundee Corporation and Diagnos,identifying the organization behind the numbered company 2282726 Ontario Limited.

Increased number of concessions

In August 2012,Diagnos announced the purchase of a block of 2, 969 mining claims in Northern Quebec on ​​behalf of an anonymous partner.

In January 2013,the company had disclosed the purchase of a block of 1193 concessions on behalf of the same partner.In total,Diagnos was then bought 4162 concessions on behalf of his partner.

Diagnosis identified the potential of mining concessions by analyzing exploration Quebec government data using its detection technology resources assisted by computer CARDS (Computer Aided Resources Detection System).

However,the article published by the Montreal newspaper mentions the acquisition of mining concessions by Diagnos 5003 on behalf of Dundee Corporation.Thus,Diagnos has acquired 841 mining concessions than those which had been announced in recent months.