Mason Hill Advisors, Virginia Mines: Mason Hill Advisors recently disclosed initiating a passive position in Virginia Mines Inc. (TSE:VGQ). In a filing with the SEC, Mason Hill reported ownership of around 4.04 million shares of Virginia Mines, which have an aggregate value of $40.88 million (42.4 million CAD). The position represents 12.28% of the company. In its latest 13F, Mason Hill did not mention holding shares of Virginia Mines.
Virginia Mines is engaged in the purchasing and exploration of mining properties. In September the company signed a strategic alliance with Altius Minerals Corporation for the exploration of geological settings for various types of mineralization in the Labrador Trough. In May, the company acquired a royalty on the Northbelt gold property from TerraX Minerals Inc. for $2 million in stock. The royalty contains 121 mining leases, the company said in a statement.