- Write by:
-
Tuesday, May 26, 2020 - 7:34:16 PM
-
523 Visit
-
Print
Mining News Pro - Gran Colombia Gold announced on Monday that it will no longer pursue the acquisition of all shares of Guyana Goldfields and, as a result, terminated the planned merger with Gold X.
The successful completion of the Guyana Goldfields acquisition was a condition for the merger with Gold X.
Guyana Goldfields rejected Gran Colombia’s acquisition proposal and instead entered into an amended agreement with Silvercorp Metals after that company upped its offer to C$1.30 a share.
Gran Colombia and Gold X had previously identified potential to connect Gold X’s wholly-owned Toroparu pre-development project and Guyana Goldfields’ Aurora open-pit gold mine.
The Gran Colombia – Gold X combination would have produced approximately 275,000 oz. gold per year, which would be expected to grow to over 500,000 oz. a year through the development of the Toroparu, Aurora underground and Marmato (Gran Colombia) assets.
Midday Monday, Gran Colombia’s stock was up 6.29% on the TSE. The company has a C$465 million market capitalization. Gold X was down 3.3% on the TSXV, with a C$99.3 million market capitalization.
Short Link:
https://www.miningnews.ir/En/News/535375
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a ...
i-80 Gold fell by over 11% at market open Tuesday following its announcement of a C$100 million ($74m) public offering ...
Australia’s Westgold Resources said on Monday it had agreed to acquire Toronto-listed Karora Resources in a ...
Chinese coal prices are likely to keep falling until the start of the peak summer season, suppressing imports of the ...
No comments have been posted yet ...