The Globe and Mail reports in its Wednesday, Jan. 16, edition that noted gold bug Rob McEwen recently raised eyebrows with the purchase of shares in TSX Venture stock MacDonald Mines Exploration. The Globe's David Parkinson writes that Mr. McEwen created a stir perhaps less for the company itself than for the other investors who came along for the ride. In October, Mr. McEwen bought into the junior mining firm along with former Barrick Gold boss Randall Oliphant, Franco-Nevada chairman and long-time Schulich partner Pierre Lassonde and investment firm Pinetree Capital. Mr. McEwen took up additional shares in early November. He boosted his interest in MacDonald Mines to 14.4 per cent. MacDonald holds substantial land claims in the James Bay area of Northern Ontario. MacDonald's claims are near where Noront Resources revealed last fall what could be a major nickel-copper discovery. Mr. McEwen made his name and fortune with Goldcorp.
MacDonald Mines stock shed two cents to finish Tuesday on the TSX Venture Exchange at 56 cents. The stock has a one-year trading range of six cents to $1.32.