General Metals Corp. of Reno signed a letter of intent to sell its 708-acre Independence Mine project in Lander County to Open Gold Corp. of Vancouver.
Open Gold said last week it will pay 64 percent of its outstanding shares to General Metals.The Vancouver company said it also plans to raise $2.35 million through a private stock sale to finance development of the project, which is adjacent to Newmont Gold's Phoenix Mine.
