M&A, Financing and Restructuring
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GOLD: First Mining defines Goldlund ahead of Treasury acquisition
ONTARIO – Thirteen new drill holes completed in the main zone at First Mining Gold‘s Goldlund project, 60 km northeast of Dryden, continue to define mineralization and support the potential to expand resources. Highlights include: 10 metres of 5.42 g/t…
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GOLD: Gran Colombia funds Caldas Gold’s Juby acquisition
TORONTO – Colombia-focused Gran Colombia Gold has invested $14 million in a private placement in its recent spinoff, Caldas Gold, to fund the acquisition of a project in Ontario’s Abitibi greenstone belt. In a deal announced in May, Caldas Gold…
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GOLD: Kirkland Lake bulks up Detour Lake with 250,000-metre drill program
TORONTO – Kirkland Lake Gold has released results from 17 new drill holes at its Detour Lake mine, 300 km northeast of Timmins, which it says have extended mineralization at the Main pit and 58 North zone. The holes, totalling…
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GOLD-SILVER: Hochschild to invest US$8M for initial stake in Riverside project
VANCOUVER – Riverside Resources has optioned its Los Cuarentas project, in Sonora, Mexico, to Hochschild Mining in a deal that will see the major spend U$8 million over five years to earn an initial 51% interest. The prospect generator has…
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GOLD: GoldMining creates Gold Royalty subsidiary
VANCOUVER – GoldMining has created a wholly owned royalty company – Gold Royalty – with a portfolio of 14 newly created royalties on GoldMining’s gold assets in the Americas. The royalties include 2% net smelter return (NSR) royalties on two…
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GOLD: Apollo Gold to acquire First Majestic properties
VANCOUVER – Apollo Gold has signed a letter of intent to acquire a group of properties in Jalisco state, Mexico, from First Majestic Silver. The deal is the second option agreement the junior has announced since April. Apollo, which changed…
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GOLD: Eclipse raising $10M in upsized bought deal
TORONTO – Eclipse Gold Mining has announced an upsized bought deal, raising $10.4 million (from $8 million previously) for working capital and corporate purposes. The syndicate of underwriters for the offering is co-led by Beacon Securities and Canaccord Genuity, purchasing…
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Perseus Mining to acquire Exore Resources
Perseus Mining (TSX: PRU; ASX: PRU) is acquiring Exore Resources (ASX: ERX) in an all-share deal worth A$58.9 million (US$41million). Exore Resources’ flagship Bagoe project is within 50 km of Perseus Mining’s Sissingue gold mine in northern Cote d’Ivoire, and the two West…
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GEOPOSITIONING: Brandt to acquire GeoShack Canada, Inteq
REGINA – The Brandt Group has announced that it has reached an agreement with U.S.-based Ultara Holdings to acquire the assets of GeoShack Canada and the Canadian assets of Inteq Distributors. “We are very excited to add this highly respected…
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Marathon Gold a ‘takeover target’ says National Bank Financial
Marathon Gold (TSX: MOZ; US-OTC: MGDPF) has completed a bought deal financing raising $34.5 million that will be spent on permitting, development and exploration at its wholly owned Valentine gold project in Newfoundland. The company issued 23 million units at a…
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GOLD: Troilus raises $22M in upsized offering
TORONTO – Troilus Gold has announced an upsized bought deal of $22 million (up from $15 million originally) as equity raises in the mining space continue. The company entered into an agreement where Cormark Securities, Laurentian Bank Securities and Stifel…
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COMMODITIES: BMO raises long-term precious metal price forecasts
TORONTO – BMO Capital Markets has hiked its long-run gold and silver price forecasts to US$1,400 per oz. and US$18.25 per oz., increases of 16.7% and 5.8%, respectively. The bank’s long term price forecasts have been “static” since 2015, the analysts…
