M&A, Financing and Restructuring
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New Gold closes US$300M partnership with Ontario Teacher’s Pension Plan
New Gold (TSX: NGD; NYSE-AM: NGD) has closed a strategic partnership with the Ontario Teachers’ Pension Plan (OTPP) to acquire a 46% free cash flow interest in the company’s New Afton mine for an upfront cash payment of US$300 million. The…
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Orla Mining advances Camino Rojo project in Mexico
Over the last month, Orla Mining (TSX: OLA) has completed two deals that help pave the way for developing its Camino Rojo gold project in Mexico’s Zacatecas state, 50 km southeast of Newmont’s (NYSE: NEM) Penasquito mine. On March 26, the company unveiled…
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Premier offers US$205M for Centerra’s stake in Greenstone Gold Mines
Premier Gold Mines is offering to purchase the remaining 50% interest it doesn’t already own in the Greenstone Gold Mines Partnership (GGM) from Centerra Gold for US$205 million. GGM’s principal asset is the Hardrock gold project (formerly known as the Trans-Canada property), in…
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GOLD: TMAC releases Hope Bay PFS with new 4,000 t/d plant scenario
NUNAVUT – TMAC Resources has released key results from a prefeasibility study completed for its wholly owned Hope Bay property, which includes an operating mine. Last year, Hope Bay produced 139,510 oz. of gold; with release of its fourth quarter…
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M&A: Argonaut and Alio announce gold-focused merger
TORONTO – Producers Argonaut Gold and Alio Gold have entered into an agreement for an all-share merger with Argonaut acquiring Alio to create a diversified intermediate company with output of over 235,000 gold-equivalent oz. annually. With a share exchange ratio…
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M&A: Seabridge to pick up 3 Aces gold project in Yukon
Seabridge Gold is acquiring the 3 Aces gold project in southeast Yukon from Golden Predator Mining for 300,000 Seabridge shares and an immediate cash payment of $263,000 as reimbursement for project expenses. Golden Predator will receive further payments of $1…
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GOLD: Mistango to become one of the largest landowners in Kirkland Lake
ONTARIO – Hinterland Metals has entered into a mining property acquisition agreement with Mistango River Resources to sell its non-core asset, the Teck property, in the Kirkland Lake gold camp. According to Hinterland, the 21-sq.-km property has been inactive for several years. Under…
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GOLD: N.S. explorers MegumaGold and Osprey combine
NOVA SCOTIA – MegumaGold and Osprey Gold have entered into an agreement for a business combination with MegumaGold acquiring Osprey in an all-share deal worth an estimated $3.7 million, based on yesterday’s closing prices. MegumaGold holds a total of 1,071…
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GRAPHITE: Northern Graphite secures financing for Bissett Creek
ONTARIO – Northern Graphite (GRR) has announced that it will sell a 1% gross revenue royalty on its Bissett Creek project to Electric Royalties (ERL) for $500,000 in cash and 2 million common shares of ERL. Under the terms of the…
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SilverCrest weighs legal options after underwriter bails on financing
As global financial markets began to melt down in response to the coronavirus pandemic, SilverCrest Metals (TSX: SIL; NYSE-A: SILV) inked a $75 million bought-deal financing on March 11 that was underwritten by a banking syndicate led by National Bank Financial (and…
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COVID-19: Coronavirus impacts spread across mining sector
As the world seemingly moves into lockdown to halt the transmission of the novel COVID-19 virus, the uncertainty and restrictions on movement are taking a toll on markets and commodities. After initially benefiting from uncertainty around the virus and peaking…
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GOLD: Nordgold interested in Cardinal’s Ghana project
GHANA – Russian gold producer Nordgold announced that it has acquired a relevant interest in 98.4 million shares of Cardinal Resources, which gives the company voting power in approximately 19.9% of the total share capital outstanding. In a press release, Nordgold…
